Dart Container Corp. and Solo Cup Co. have announced that they have signed a definitive agreement under which Dart will acquire Solo in a transaction valued at approximately $1 billion. Both companies are in the consumer and foodservice disposable packaging business. The transaction, which is subject to regulatory approval, is expected to close by the third quarter of this year.
“Our acquisition of Solo will allow us to provide even greater value to our customers in the future,” says Dart CEO Robert Dart. “It will enable customers to purchase a wider range of products, made from a greater variety of materials with varying functional and environmental attributes—all from a single vendor. Both companies have an extensive history in the industry and will bring together valuable experience, traditions and complementary, high-quality products.”