Sonoco announced it has signed an agreement to sell its Europe contract packaging business to Prairie Industries Holdings, a Wisconsin-based contract packaging and contract manufacturing firm backed by The Halifax Group, a Washington, D.C.-based global investment firm, for $120 million in cash. The transaction is subject to normal closing requirements and is expected to be completed in the fourth quarter of 2020. Sonoco’s Europe contract packaging business (Sonoco Poland Packaging Services Sp. z o.o.) produced net sales of approximately $300 million in 2019 and provides full-service custom packaging and supply chain management solutions to global consumer product goods companies through six contract packaging facilities in three locations and a warehouse all in Poland. The business is part of Sonoco’s Display and Packaging segment and has approximately 2,600 employees.

*Net earnings of $165 million ($0.47 per diluted share); Adjusted operating earnings (non-GAAP) of $224 million ($0.64 per diluted share) *$75 million of earnings achieved from Building a Better IP initiatives, bringing year-to-date to $195 million, exceeding full-year targets *Cash provided by operations of $468 million, bringing year-to-date to $1.3 billion *Returned $160 million to shareholders in dividends, bringing year-to-date to $679 million in share repurchases and dividends *Completed the sale of our Ilim Joint Venture interest for $508 million

In response to significant growth of their customer base, Rootree Inc., Canada’s leader in sustainable digital flexible packaging, opened a second location in Montréal, Québec, and also moved their head office from Hamilton, Ontario to Burlington, Ontario. Over the past year, Rootree Inc.’s customer base has rapidly grown across North America. In order to continue to provide quality service for sustainable digital flexible packaging, Rootree Inc. opened a second location in Montréal, Québec to serve their French-speaking and Québec-based clients more effectively. The expansion allows Québec and East Coast-based Canadian and US clients to: *communicate with bilingual sales representatives, *access Rootree Inc.’s offices and showrooms from a more central location, and *receive sample deliveries in less time.