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Weightmans advises global packaging company on $187m acquisition

National law firm Weightmans has advised NYSE listed global packaging company, Sonoco, on its acquisition in the UK of Plastique Holdings Limited.

National law firm Weightmans has advised NYSE listed global packaging company, Sonoco, on its acquisition in the UK of Plastique Holdings Limited.

The purchase formed part of a wider deal also involving the acquisition in the US of Thermoform Engineered Quality LLC by Sonoco.

Thermoform and Plastique (together TEQ) were acquired from former owners ESCO Technologies Inc.

TEQ is a global manufacturer serving the healthcare, medical device and consumer markets with thermoformed packaging.

The combined deal value of $187m makes it one of the largest corporate transactions involving North West advisors this year.

Corporate partner, Paul Raftery, based in Weightmans’ Manchester office, advised Sonoco Products on its acquisition in the UK.

Paul Raftery commented:

“This was a material and strategic acquisition by Sonoco in line with its stated growth ambitions in the medical products packaging sector.

“We were delighted once again to have been engaged by them to advise, in this instance, on the UK-specific acquisition, drawing on expertise from across the business.”

Additional team members who supported Paul included Cath Hendy, Barry Riley, Laurence Pritchard, Haroon Younis and Maxine Buckton.

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