Sonoco Completes Sale of Thermoformed and Flexibles Packaging Business to TOPPAN Holdings, Inc.
Sonoco (NYSE: SON) has completed the sale of its Thermoformed and Flexibles Packaging business (TFP) to TOPPAN Holdings for approximately $1.8 billion on a cash-free and debt-free basis. The company will use the $1.5 billion in after-tax proceeds to reduce leverage.
The transaction involves the transfer of approximately 4,500 TFP employees to Toppan. This strategic move aligns with Sonoco's transformation goals toward becoming a simpler, stronger, and more sustainable company, with a focused portfolio in sustainable metal and fiber consumer and industrial packaging.
Goldman Sachs & Co. served as lead financial advisor to Sonoco, with RBC Capital Markets, as additional financial advisor. The company will report its first quarter 2025 financial results on April 29, 2025.
Sonoco (NYSE: SON) ha completato la vendita della sua attività di imballaggi termoformati e flessibili (TFP) a TOPPAN Holdings per circa 1,8 miliardi di dollari su base priva di debiti e senza liquidità. L'azienda utilizzerà i 1,5 miliardi di dollari di proventi dopo le tasse per ridurre l'indebitamento.
La transazione comporta il trasferimento di circa 4.500 dipendenti TFP a Toppan. Questa mossa strategica è in linea con gli obiettivi di trasformazione di Sonoco, che mira a diventare un'azienda più semplice, forte e sostenibile, con un portafoglio focalizzato su imballaggi sostenibili in metallo e fibra per i consumatori e l'industria.
Goldman Sachs & Co. ha svolto il ruolo di consulente finanziario principale per Sonoco, con RBC Capital Markets come consulente finanziario aggiuntivo. L'azienda riporterà i risultati finanziari del primo trimestre 2025 il 29 aprile 2025.
Sonoco (NYSE: SON) ha completado la venta de su negocio de envases termoformados y flexibles (TFP) a TOPPAN Holdings por aproximadamente 1.8 mil millones de dólares en una base libre de efectivo y de deudas. La compañía utilizará los 1.5 mil millones de dólares en ingresos después de impuestos para reducir su apalancamiento.
La transacción implica la transferencia de aproximadamente 4,500 empleados de TFP a Toppan. Este movimiento estratégico se alinea con los objetivos de transformación de Sonoco hacia convertirse en una empresa más simple, fuerte y sostenible, con un portafolio enfocado en envases sostenibles de metal y fibra para consumidores e industria.
Goldman Sachs & Co. actuó como asesor financiero principal para Sonoco, con RBC Capital Markets como asesor financiero adicional. La compañía informará sus resultados financieros del primer trimestre de 2025 el 29 de abril de 2025.
Sonoco (NYSE: SON)는 TOPPAN Holdings에 약 18억 달러에 현금 및 부채가 없는 상태로 열가소성 및 유연한 포장 사업(TFP)을 매각 완료했습니다. 이 회사는 세후 수익 15억 달러를 사용하여 부채를 줄일 예정입니다.
이번 거래는 약 4,500명의 TFP 직원이 Toppan으로 이전되는 것을 포함합니다. 이 전략적 움직임은 Sonoco가 보다 간단하고 강력하며 지속 가능한 회사로 변모하려는 목표와 일치하며, 지속 가능한 금속 및 섬유 소비자 및 산업 포장에 집중된 포트폴리오를 가지고 있습니다.
Goldman Sachs & Co.는 Sonoco의 주요 재정 고문 역할을 했으며, RBC Capital Markets가 추가 재정 고문으로 참여했습니다. 이 회사는 2025년 1분기 재무 결과를 2025년 4월 29일에 발표할 예정입니다.
Sonoco (NYSE: SON) a finalisé la vente de son activité d'emballages thermoformés et flexibles (TFP) à TOPPAN Holdings pour environ 1,8 milliard de dollars sur une base sans dette et sans liquidités. L'entreprise utilisera les 1,5 milliard de dollars de produits après impôts pour réduire son endettement.
La transaction implique le transfert d'environ 4 500 employés de TFP à Toppan. Ce mouvement stratégique s'aligne sur les objectifs de transformation de Sonoco visant à devenir une entreprise plus simple, plus forte et plus durable, avec un portefeuille axé sur des emballages durables en métal et en fibre pour les consommateurs et l'industrie.
Goldman Sachs & Co. a été le conseiller financier principal de Sonoco, avec RBC Capital Markets comme conseiller financier supplémentaire. L'entreprise annoncera ses résultats financiers du premier trimestre 2025 le 29 avril 2025.
Sonoco (NYSE: SON) hat den Verkauf seines Geschäfts mit thermoformbaren und flexiblen Verpackungen (TFP) an TOPPAN Holdings für etwa 1,8 Milliarden US-Dollar auf einer schuldenfreien und bargeldfreien Basis abgeschlossen. Das Unternehmen wird die 1,5 Milliarden US-Dollar an Nettogewinnen zur Verringerung der Verschuldung verwenden.
Die Transaktion umfasst die Übertragung von etwa 4.500 TFP-Mitarbeitern an Toppan. Dieser strategische Schritt steht im Einklang mit den Transformationszielen von Sonoco, ein einfacheres, stärkeres und nachhaltigeres Unternehmen zu werden, mit einem fokussierten Portfolio in nachhaltigen Metall- und Faserverpackungen für Verbraucher und Industrie.
Goldman Sachs & Co. fungierte als Hauptfinanzberater für Sonoco, während RBC Capital Markets als zusätzlicher Finanzberater tätig war. Das Unternehmen wird seine Finanzzahlen für das erste Quartal 2025 am 29. April 2025 bekannt geben.
- Sale of TFP business generates $1.8 billion in proceeds
- Significant debt reduction of $1.5 billion improving financial position
- Strategic focus on core sustainable metal and fiber packaging business
- Divestment of substantial business unit with 4,500 employees reduces operational scale
Insights
Sonoco's $1.8 billion divestiture of its Thermoformed and Flexibles Packaging business represents a significant strategic restructuring with substantial financial implications. The most important outcome is the $1.5 billion debt reduction from the after-tax proceeds, which will dramatically improve Sonoco's balance sheet strength and financial flexibility.
This deleveraging move comes at a strategically opportune time, allowing Sonoco to reduce interest expenses and strengthen its financial foundation. The transaction effectively transforms Sonoco's business profile by streamlining operations and focusing capital allocation on its core sustainable metal and fiber packaging segments.
While the company is parting with approximately 4,500 employees and the associated revenue streams from the divested business unit, the simplified corporate structure should enhance operational focus and potentially improve margin profiles going forward. The transaction essentially trades business diversification for financial optimization and core business investment potential.
This move aligns with Sonoco's articulated strategy of becoming "simpler, stronger and more sustainable" - potentially positioning the company for more targeted growth investments or shareholder returns as the improved balance sheet creates additional financial flexibility.
Proceeds Being Used to Reduce Approximately
HARTSVILLE, S.C., April 01, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), a core mid-cap growth and value equity which is a global leader in high-value sustainable packaging, today announced it has completed the sale of its Thermoformed and Flexibles Packaging business (“TFP”) to TOPPAN Holdings Inc. (“Toppan”) for a purchase price of approximately
“Today marks a milestone in achieving our strategy to transform Sonoco into a simpler, stronger and more sustainable Company. We extend our best wishes for continued success to our approximately 4,500 former TFP teammates and their new Toppan team,” said Howard Coker, president and CEO. “As previously communicated, we are utilizing the approximately
Goldman Sachs & Co. LLC acted as lead financial advisor to Sonoco. RBC Capital Markets, LLC also acted as financial advisor to Sonoco. Freshfields LLP acted as Sonoco’s legal advisor.
Houlihan Lokey acted as lead financial advisor and Morrison & Foerster LLP acted as legal advisor to TOPPAN. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. also acted as financial advisor to TOPPAN.
First Quarter Financial Results
Sonoco will report its first quarter 2025 financial results on Tuesday, April 29, 2025, after the market closes. The Company’s management will host a conference call to discuss these results on Wednesday, April 30, 2025, at 8:30 a.m. Eastern Time.
A live audio webcast of the call along with supporting materials will be available on the Sonoco Investor Relations website at https://investor.sonoco.com/. The webcast link is https://events.q4inc.com/attendee/885803164. A webcast replay will be available on the Company's website for at least 30 days following the call.
About Sonoco
Founded in 1899, Sonoco (NYSE: SON) is a global leader in value-added, sustainable metal and fiber consumer and industrial packaging. The Company is now a multi-billion-dollar enterprise with approximately 23,400 employees working in 285 operations in 40 countries, serving some of the world’s best-known brands. Guided by our purpose of Better Packaging. Better Life., we strive to foster a culture of innovation, collaboration and excellence to provide solutions that better serve all our stakeholders and support a more sustainable future. Sonoco was proudly named one of America’s Most Responsible Companies by Newsweek. For more information on the Company, visit our website at www.sonoco.com.
Forward-Looking Statements
Certain statements made in this communication are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “accelerate,” “committed,” “enable,” “ensure,” “expect,” “future,” “will,” or the negative thereof, and similar expressions identify forward-looking statements.
Forward-looking statements in this communication include, but are not limited to, the Company’s anticipated effects of the divestiture on the Company’s portfolio simplification strategy, streamlining of the Company’s organizational structure, and capital investments in the Company’s remaining businesses; and the Company’s expected use of the net proceeds of the divestiture. These forward-looking statements are made based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning the Company’s future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements. Risks and uncertainties include, among other things, risks related to the Transaction, including the Company’s ability to realize anticipated benefits of the Transaction, or that such benefits may take longer to realize than expected; diversion of management’s attention; the potential impact of the consummation of the Transaction on relationships with employees, clients and other third parties; the Company’s ability to execute on its strategy, including with respect to portfolio simplification, organizational streamlining, and capital investments, and achieve the benefits it expects therefrom; and the other risks, uncertainties and assumptions discussed in the Company’s filings with the Securities and Exchange Commission, including its most recent reports on Forms 10-K and 10-Q, particularly under the heading “Risk Factors”. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur.
Contact: | Roger Schrum | |
843-339-6018 | ||
roger.schrum@sonoco.com |
