Sonoco Completes Sale of ThermoSafe Unit to Arsenal Capital Partners
Sonoco (NYSE: SON) announced on Nov 3, 2025 that it completed the sale of its ThermoSafe business to Arsenal Capital Partners for up to $725 million.
The consideration is $650 million payable at closing on a cash-free, debt-free basis plus up to $75 million of additional consideration if specified 2025 performance measures are met. Sonoco said net proceeds will be used to repay existing debt and that, pro forma for the transaction and excluding any additional consideration, expected net proceeds are projected to reduce Sonoco’s net leverage ratio to approximately 3.4x (using 2025 adjusted EBITDA midpoint less ThermoSafe proforma adjusted EBITDA).
Sonoco (NYSE: SON) ha annunciato il 3 novembre 2025 di aver completato la vendita della sua attività ThermoSafe ad Arsenal Capital Partners per un importo fino a 725 milioni di dollari.
La contropartita è di 650 milioni di dollari da corrispondersi al closing su base cash-free e debt-free, oltre a fino a 75 milioni di dollari di ulteriore contropartita se verranno raggiunti i parametri di performance previsti per il 2025. Sonoco ha detto che i proventi netti saranno usati per rimborsare debiti esistenti e che, pro forma per l’operazione ed escludendo eventuali ulteriori corrispettivi, si prevede che i proventi netti riducano il rapporto netto di leva di Sonoco a circa 3,4x (utilizzando il midpoint dell’EBITDA rettificato 2025 meno l’EBITDA rettificato pro forma di ThermoSafe).
Sonoco (NYSE: SON) anunció el 3 de noviembre de 2025 que completó la venta de su negocio ThermoSafe a Arsenal Capital Partners por hasta 725 millones de dólares.
La contraprestación es de 650 millones de dólares pagaderos al cierre en una base libre de efectivo y deuda, más hasta 75 millones de dólares de consideración adicional si se cumplen los indicadores de desempeño especificados para 2025. Sonoco indicó que los ingresos netos se utilizarán para pagar la deuda existente y que, pro forma para la transacción y excluyendo cualquier consideración adicional, se proyecta que los ingresos netos esperados reduzcan la razón de apalancamiento neto de Sonoco a aproximadamente 3,4x (utilizando el punto medio de EBITDA ajustado 2025 menos el EBITDA ajustado pro forma de ThermoSafe).
Sonoco (NYSE: SON)은 2025년 11월 3일에 ThermoSafe 사업을 Arsenal Capital Partners에 최대 7억 2500만 달러에 매각하기로 완료했다고 발표했습니다.
대금은 6억 5천만 달러가 클로징 시 현금-프리, 부채-프리 기준으로 지급되며, 2025년의 성과 지표가 충족될 경우 추가로 7,500만 달러의 보상이 있을 수 있습니다. Sonoco는 순수익은 기존 부채를 상환하는 데 사용될 것이며, 거래 반영 및 추가 보상을 제외하면 순수익이 향후 Sonoco의 순부채비율을 대략 3.4x로 낮출 것으로 예상된다고 밝혔습니다(2025년 조정된 EBITDA의 중간값과 ThermoSafe의 프로포마 조정 EBITDA를 사용).
Sonoco (NYSE: SON) a annoncé le 3 novembre 2025 avoir finalisé la vente de son activité ThermoSafe à Arsenal Capital Partners pour jusqu'à 725 millions de dollars.
La contrepartie est de 650 millions de dollars payable à la clôture sur une base cash-free, debt-free, ainsi que jusqu'à 75 millions de dollars de contrepartie additionnelle si les indicateurs de performance spécifiés pour 2025 sont atteints. Sonoco a indiqué que le produit net serait utilisé pour rembourser la dette existante et que, pro forma pour l'opération et en excluant toute contrepartie additionnelle, les produits nets attendus devraient réduire le ratio d'effet de levier net de Sonoco à environ 3,4x (en utilisant le midpoint de l'EBITDA ajusté 2025 moins l'EBITDA ajusté pro forma ThermoSafe).
Sonoco (NYSE: SON) kündigte am 3. November 2025 an, dass es den Verkauf seines ThermoSafe-Geschäfts an Arsenal Capital Partners für bis zu 725 Millionen Dollar abgeschlossen hat.
Die Gegenleistung beträgt 650 Millionen Dollar, zahlbar bei Abschluss auf Basis Cash-Free, Debt-Free, zuzüglich bis zu 75 Millionen Dollar zusätzlicher Gegenleistung, falls die festgelegten Leistungskennzahlen für 2025 erreicht werden. Sonoco sagte, dass der Nettogewinn verwendet werde, um bestehende Schulden zu tilgen, und dass, pro forma für die Transaktion und ohne zusätzliche Gegenleistung, die erwarteten Nettoliquiditätszuflüsse voraussichtlich das Netto-Leverage-Verhältnis von Sonoco auf ungefähr 3,4x senken (unter Verwendung des 2025er angepassten EBITDA-Mittelswert minus ThermoSafe pro forma angepasstes EBITDA).
سانوكو (بورصة نيويورك: SON) أعلنت في 3 نوفمبر 2025 أنها أكملت بيع نشاط ThermoSafe إلى Arsenal Capital Partners مقابل ما يصل إلى 725 مليون دولار.
المقابل هو 650 مليون دولار يُدفع عند الإغلاق وفقًا لقاعدة نقد-خالية، وبدون ديون، بالإضافة إلى ما يصل إلى 75 مليون دولار كتعويض إضافي إذا تم تحقيق مؤشرات الأداء المحددة للعام 2025. قالت Sonoco إن العائدات الصافية ستُستخدم لسداد الديون القائمة وأنه، مع الأخذ في الاعتبار المعالجة المحاسبية المسبقة للصفقة واستبعاد أي تعويض إضافي، من المتوقع أن تقل العائدات الصافية المتوقعة من نسبة الرفع الصافي للشركة إلى نحو 3.4x (باستخدام نقطة الوسط لـ EBITDA المعدل لعام 2025 ناقص EBITDA ThermoSafe المعدلة وفق الحساب المسبق).
- $650M cash consideration received at closing
- Total deal value up to $725M including contingent consideration
- Proceeds earmarked to repay existing debt, lowering leverage
- Proforma net leverage projected at ~3.4x
- Company permanently divested ThermoSafe, exiting that revenue stream
- Up to $75M additional consideration is contingent on 2025 performance and not guaranteed
Insights
Sale of ThermoSafe for up to
Sonoco sells ThermoSafe to Arsenal for
Key dependencies include receipt of the full contingent
HARTSVILLE, S.C., Nov. 03, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), a global leader in high-value sustainable packaging, today announced it has completed the sale of its ThermoSafe business unit (“ThermoSafe”), one of the leading providers of temperature assurance technologies, to Arsenal Capital Partners (“Arsenal”), a leading private equity investment firm that specializes in building market-leading industrial growth and healthcare companies, for a total purchase price of up to
Howard Coker, Sonoco’s President and Chief Executive Officer, said, “The completion of the sale of ThermoSafe substantially concludes Sonoco’s portfolio transformation, which simplified our operations from a large portfolio of businesses into two core global business segments focused on metal and paper consumer and industrial packaging. Sonoco is proud of what we have accomplished in building ThermoSafe into one of the industry’s leading players. We thank the entire ThermoSafe team for their dedication and wish them and their new owners continued success in the future.”
Proforma for the transaction, the expected net proceeds from the divestiture, excluding any additional consideration, are projected to reduce Sonoco’s net leverage ratio (defined as third quarter total debt less cash and expected net proceeds divided by the midpoint of 2025 adjusted EBITDA guidance range less ThermoSafe’s proforma adjusted EBITDA) to approximately 3.4x.
Morgan Stanley & Co. LLC acted as financial advisor to Sonoco. Freshfields LLP acted as Sonoco’s legal advisor. Raymond James acted as lead financial advisor to Arsenal, and Kirkland & Ellis LLP acted as Arsenal’s legal counsel.
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. In 2025, Sonoco was named one of America’s Most Admired and Responsible Companies by Newsweek and by USA TODAY’s list of America’s Climate Leaders. For more information on the Company, visit our website at www.sonoco.com.
About Arsenal Capital Partners
Arsenal Capital Partners is a leading private equity investment firm that specializes in building market-leading industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds totaling over
About ThermoSafe
ThermoSafe is a global leader in temperature assurance technologies, delivering innovative systems that ensure the safe and efficient transport of pharmaceuticals, biologics, vaccines, and other healthcare products. ThermoSafe’s comprehensive portfolio – ranging from parcel shippers to bulk and reusable solutions are designed to maintain precise refrigerated, frozen, and controlled room-temperature conditions. Through its ISC Labs®, ThermoSafe provides customized design and testing services, innovative packaging solutions, and comprehensive qualification and validation support to meet stringent regulatory requirements. With decades of experience and a commitment to sustainability, ThermoSafe partners with the world’s leading healthcare and life sciences organizations to solve cold chain challenges and improve patient outcomes. For more information, visit www.thermosafe.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 “committed,” “enable,” “expect,” “future,” “will,” “projected” or the negative thereof, and similar expressions identify forward-looking statements.
Forward-looking statements in this communication include, but are not limited to, the expected benefits of the transaction; the Company’s anticipated effects of the transaction 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 transaction. 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 |
FAQ
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