Sonoco, an international provider of diversified consumer packaging, announced on 5/20/2019 that it will be acquiring Corenso Holdings America for approximately $110 million in cash. Corenso specializes in manufacturing uncoated recycled paperboard (URB) and high-performance cores used in paper, packaging films, tape, and specialty industries. Given that Sonoco only has a few patent documents in the Biodegradable Packaging sector, most of which are directed to plant pots, this acquisition may be part of the company's plan to compete in the growing paperboard market.
