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US packaging group Sonoco acquired the remaining 70% stake in Conitex from Texpack, giving it 100% of Conitex, the parent of Papertech in Tudela, Spain. The deal is valued at EUR 123 million and was notified to Spain's CNMC on 27 August 2018.
Sonoco signed a definitive agreement to acquire the remaining 70% interest in the Conitex Sonoco joint venture, a maker of paper-based cones and tubes for the textile industry, for about $133 million in cash. The deal is expected to close in Q3 2018.
