Solo Cup to repay some term debt with asset sale proceeds

By Sara Rosenberg

New York, Sept. 10 - Solo Cup Co. plans to repay some of its term loan debt using proceeds from the sale of its Hoffmaster business to Kohlberg & Co. LLC, according to a news release.

Kohlberg is buying the business for about $170 million.

The transaction is expected to close within the next 45 days, subject to regulatory approvals and other customary closing conditions.

Solo Cup is a Highland Park, Ill.-based manufacturer of disposable foodservice products for the consumer/retail, food service and international markets.

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