8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 13, 2017

SONOCO PRODUCTS COMPANY

Commission File No. 001-11261

Incorporated under the laws	I.R.S. Employer Identification
of South Carolina	No. 57-0248420

1 N. Second St.

Hartsville, South Carolina 29550

Telephone: 843/383-7000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 – Financial Information

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On March 13, 2017, the registrant entered into a three-year, $150 million Term Loan Facility with Bank of America, N.A. The full $150 million was drawn from this facility on March 13, 2017, and the proceeds, along with cash on hand and proceeds from the issuance of commercial paper, were used to fund the acquisition of Packaging Holdings, Inc. and subsidiaries, including Peninsula Packaging, LLC, on March 14, 2017. The loan has a three-year fixed term with no amortization. Interest is assessed at the London Interbank Offered Rate (LIBOR) plus 115 basis points. Repayment can be accelerated at any time at the discretion of the Company.

Section 7 – Regulation FD

Item 7.01 Regulation FD Disclosure.

On March 14, 2017, Sonoco Products Company issued a news release announcing that it had completed the acquisition of Packaging Holdings, Inc. and subsidiaries, including Peninsula Packaging, LLC, for approximately $230 million. The transaction was funded with a combination of cash on hand, proceeds from the issuance of commercial paper, and proceeds from the $150 million three-year term loan described under Item 2.03 of this Current Report on Form 8-K. A copy of that release is attached hereto as Exhibit 99.

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99 Registrant's news release dated March 14, 2017, announcing its completion of the acquisition of Packaging Holdings, Inc. and subsidiaries, including Peninsula Packaging, LLC.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SONOCO PRODUCTS COMPANY
Date: March 16, 2017	By: /s/ Barry L. Saunders
	Barry L. Saunders
	Senior Vice President and Chief Financial Officer

EXHIBIT INDEX

99 Registrant's news release dated March 14, 2017, announcing its completion of the acquisition of Packaging Holdings, Inc. and subsidiaries, including Peninsula Packaging, LLC.

EX-99

March 14, 2017 Contact:

Roger Schrum

+843-339-6018

roger.schrum@sonoco.com

Sonoco Completes Acquisition of Peninsula Packaging Company

HARTSVILLE, S.C., U.S. - Sonoco (NYSE: SON), one of the largest diversified global packaging companies, today announced it has completed the acquisition of Peninsula Packaging Company, a leading manufacturer of thermoformed packaging for fresh fruit and vegetables found in the fast-growing perimeter of retail supermarkets.

Sonoco acquired Peninsula Packaging for approximately $230 million from funds managed by Odyssey Investment Partners, LLC and other shareholders. Sonoco financed the transaction with a combination of cash and a $150 million three-year term loan. Peninsula’s financial results will be added to Sonoco’s Consumer Packaging segment and the business will operate as the Peninsula brand of thermoformed packaging products within Sonoco Plastics division’s global operations.

Founded in 2001, Peninsula Packaging had 2016 proforma sales of approximately $190 million¹ and operates five manufacturing facilities, four in the United States and one in Mexico. The majority of its business is focused on packaging for a wide range of whole fresh fruits, pre-cut fruits and produce and prepared salad mixes, as well as baked goods. Peninsula’s customer base includes most of the leading household names for fresh fruits and vegetables found at retail.

“We are extremely pleased to have Peninsula joining the Sonoco family of leading consumer packaging products. Peninsula significantly expands our thermoforming packaging capabilities and we now occupy a strong packaging position serving the perimeter of supermarkets in fresh food products, combined with our existing offerings in the center of the store, including those serving a range of frozen and shelf-stable foods,” said Sonoco Executive Vice President and Chief Operating Officer Rob Tiede.

Tiede added that many of Peninsula’s leadership, sales and operations team will remain and it expects no changes in its customer relationships. “Combining Peninsula’s product lines with Sonoco’s packaging capabilities positions us extremely well to capture new growth in the rapidly expanding fresh and natural category, while greatly accelerating and enhancing our ability to offer our customers the most diverse consumer packaging formats and solutions in the industry,” he concluded.

¹ Proforma sales includes projected full-year sales from a new operation in Mexico which started in mid-year 2016.

About Sonoco

Founded in 1899, Hartsville, S.C.-based Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of $4.8 billion, the Company has 20,000 employees working in more than 300 operations in 33 countries, serving some of the world’s best known brands in some 85 nations. For more information on the Company, visit www.sonoco.com.

About Sonoco’s Peninsula Packaging Brand

Sonoco’s Peninsula brand of thermoformed plastic packaging products serves the fresh produce and bakery markets. Products include hinged containers (clamshells, produce trays, etc.), bases, lids and domes. Primary markets served include a wide range of berries, packaged salads and cut vegetables. Extrusion, thermoforming and labeling are managed from five production facilities located in Exeter, Calif.; Hollister, Calif.; Wilson, N.C.; Yakima, Wash.; and Guadalajara, Mexico. More information is available at www.peninsulapackaging.com.

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