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Spain: Sonoco merger advances concentration in Spanish paper sector

 |  September 4, 2018

US paper company Sonoco has reached an agreement with its Catalan counterpart Texpac to acquire its subsidiaries, Conitex (in which Sonoco already has a 30% participation) and Compositub.

The operation was notified to the National Commission of Markets and Competition, being valued at 123 million euros (US$143 million).

Sonoco is one of the global giants in the paper industry, with more than 21,000 employees worldwide. In Spain, the company operates a cardboard tube production plant in Zaragoza.

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