Corenso is a leading US manufacturer of uncoated recycled paperboard (URB) and high-performance cores used in the paper, packaging films, tape, and specialty industries. The transaction is subject to normal regulatory review and is expected to close in Q3 2019.
Corenso produced net sales of approximately $75 million in 2018 and operates a 108,000-ton/yr uncoated recycled paperboard mill in Wisconsin Rapids, WI, as well as two core-converting facilities in Wisconsin Rapids and Richmond, VA, which combined employ approximately 175 associates.
According to Rob Tiede, Sonoco president/CEO, “The acquisition of Corenso Holdings America creates a long-term opportunity for Sonoco as CHA operates a best-in-class uncoated recycled paperboard mill that is capable of producing a wide variety of coreboard grades, in addition to providing attractive core converting assets and long-term partnerships with customers.”
Tiede adds, “Along with its attractive assets and customer mix, 100% of Corenso Holdings America products are made from recycled raw materials, which further enhances Sonoco’s sustainability commitment to increase by weight the amount we recycle or cause to be recycled up to 85% relative to the volume of products we put into the global marketplace by 2025.”