Sonoco Signs Agreement to Acquire Weidenhammer Packaging Group
Transaction will create global leader in rigid paper packaging.
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Weidenhammer's projected 2014 sales are expected to be approximately $327 million, with EBITDA expected to be approximately $56 million. The transaction is expected to have no material impact to Sonoco's 2014 base earnings and should be accretive to Sonoco's 2015 base earnings in the range of $0.09 to $0.14 per share, including estimated adjustment for purchase accounting and first year synergies. Future accretion is expected through material internalization and other cost synergies.
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