Sonoco Products Company, one of the largest diversified global packaging companies, has agreed a deal to sell its European contract packaging business (Sonoco Poland-Packaging Services) to Prairie Industries Holdings, a Wisconsin-based contract packaging and contract manufacturing firm, for $120 million.
The transaction is subject to the review by national competition protection authorities in countries where the purchaser needs to obtain the clearance, and shall be completed after all conditions to close have been fulfilled.
DWF advised on a number of elements within the transaction, including transactional work related to the share purchase agreement and ancillary documentation, with corporate, tax and GDPR issues, as well as Polish and multinational employment and competition matters.
The team was led by Lech Najbauer, Counsel on Corporate Law and M&A, and included Mateusz Baszczyk Senior Associate, Corporate), Marta Wysokińska (Counsel), Aleksander Zieliński (Associate). Adrian Jonca, (Partner) and Izabela Plis (Senior Associate) also advised on tax matters. Employment elements of the transaction were advised by Izabela Szczygielska (Partner), Patrycja Caban (Associate), Adrianna Gnatowska (Associate), Mathilde Plenat, (Partner), Thorsten Kühnel (Senior Associate), Helga Breen (Partner) and Ingrid Nixon (Solicitor), with Daisy Walzel (Partner) advising on competition.