Subsequent Events Subsequent Events (Notes)

12 Months Ended

Dec. 31, 2019

Subsequent Event [Line Items]

Subsequent Events [Text Block]

Subsequent Events

On February 19, 2020, the Company announced that it has signed an agreement to acquire the Rapak® brand, including certain bag-in-box product lines and assets ("Rapak") from Liqui-Box, for a purchase price of $12 million. As a regulatory condition, the acquisition is subject to Liqui-Box's successful completion of its acquisition of DS Smith's Plastic Division. Annual net sales related to the acquired products is approximately $30 million. The transaction is expected to close in the first half of 2020, at which time Rapak will become part of the Packaging reportable segment.

On January 30, 2020, the Company announced that it has signed an agreement to acquire RSA Engineered Products ("RSA") for a purchase price of $85 million, subject to customary closing conditions. RSA is a manufacturer of complex, highly-engineered and proprietary ducting, connectors and related products for air management systems used in aerospace and defense applications, and has annual net sales of approximately $30 million. The transaction is expected to close during the first quarter of 2020, at which time RSA will become part of the Aerospace reportable segment.