Freshfields is representing Sonoco Products Company, a diversified global packaging leader, on its acquisition of the remaining equity interest in its joint venture with the WestRock Company, RTS Packaging, and one paper mill in Chattanooga, Tennessee, for $330 million in cash. The transaction is expected to close in the first half of 2023, subject to regulatory approvals and customary closing conditions. More information is available here.

The Freshfields team is led by New York-based Partners Zheng (Johnathan) Zhou and Damien Zoubek and Associates Anne Powderly, Daria Butler and Hannah Golden. Partner Joe Soltis and Senior Associate David Mitchell advised on tax matters; Partner Lori Goodman and Associate Brian Chung on employee benefits matters; Partner Menachem Kaplan and Associates Marissa Yu and Jennifer Lei on IP and transition services agreement matters; Partner Justin Stewart-Teitelbaum, Counsel Laura Onken and Associates Iris Zhou and Morag Elwis on antitrust matters; and Counsel Samantha Braunstein and Associates Lacey Nemergut and Nora McDonnell on finance matters.

ENDS