Sonoco to Sell Temperature-Assured Packaging Business to Arsenal Capital Partners
Sonoco (NYSE:SON) has announced the sale of its ThermoSafe business unit to Arsenal Capital Partners for up to $725 million. The deal includes $650 million at closing and potential additional consideration of $75 million based on 2025 performance metrics.
ThermoSafe, a leading provider of temperature-controlled packaging solutions, generated $240 million in sales and approximately $50 million in proforma adjusted EBITDA in 2024. The business employs around 900 associates globally and specializes in pharmaceutical, biologics, and vaccine packaging solutions.
The transaction, expected to close by end of 2025, will help Sonoco streamline its operations into two core global business segments. Net proceeds will be used to reduce debt, with the company's projected net leverage ratio expected to decrease to approximately 3.5x.
Sonoco (NYSE:SON) ha annunciato la cessione dell'unità ThermoSafe ad Arsenal Capital Partners per un valore fino a $725 milioni. L'accordo prevede $650 milioni al closing e un'ulteriore possibile componente di $75 milioni legata ai risultati del 2025.
ThermoSafe, fornitore leader di soluzioni di imballaggio a temperatura controllata, ha registrato $240 milioni di ricavi e circa $50 milioni di EBITDA rettificato proforma nel 2024. L'attività impiega circa 900 collaboratori nel mondo e si concentra su imballaggi per farmaci, prodotti biologici e vaccini.
La transazione, il cui completamento è previsto entro la fine del 2025, consentirà a Sonoco di semplificare le proprie attività in due principali segmenti globali. I proventi netti serviranno a ridurre il debito, con il rapporto di leva finanziaria netto atteso scendere a circa 3,5x.
Sonoco (NYSE:SON) ha anunciado la venta de su unidad ThermoSafe a Arsenal Capital Partners por hasta $725 millones. El acuerdo incluye $650 millones al cierre y una posible contraprestación adicional de $75 millones vinculada al desempeño de 2025.
ThermoSafe, proveedor líder de soluciones de embalaje con control de temperatura, generó $240 millones en ventas y aproximadamente $50 millones en EBITDA ajustado proforma en 2024. El negocio emplea alrededor de 900 personas a nivel mundial y se especializa en embalajes para productos farmacéuticos, biológicos y vacunas.
La operación, que se espera concluir antes de finales de 2025, ayudará a Sonoco a concentrar sus actividades en dos segmentos globales principales. Los ingresos netos se utilizarán para reducir la deuda, y se prevé que la ratio de apalancamiento neto baje a aproximadamente 3,5x.
Sonoco (NYSE:SON)는 ThermoSafe 사업부를 Arsenal Capital Partners에 최대 $725 million에 매각한다고 발표했습니다. 거래금액은 마감 시 $650 million이며 2025년 성과에 따라 추가로 $75 million이 지급될 수 있습니다.
ThermoSafe는 온도 제어 포장 솔루션의 선도업체로 2024년 $240 million의 매출과 약 $50 million의 proforma 조정 EBITDA를 기록했습니다. 전 세계 약 900명의 직원을 두고 있으며 의약품, 생물학제제, 백신용 포장에 특화되어 있습니다.
거래는 2025년 말까지 완료될 예정이며 Sonoco가 핵심 글로벌 사업 부문을 두 개로 간소화하는 데 기여할 것입니다. 순수익은 부채 상환에 사용되며 회사의 예상 순레버리지 비율은 약 3.5x로 낮아질 것으로 예상됩니다.
Sonoco (NYSE:SON) a annoncé la vente de sa division ThermoSafe à Arsenal Capital Partners pour un montant pouvant aller jusqu'à 725 millions $. L'accord comprend 650 millions $ à la clôture et une possible contrepartie additionnelle de 75 millions $ liée aux performances 2025.
ThermoSafe, fournisseur de premier plan de solutions d'emballage à température contrôlée, a réalisé 240 millions $ de ventes et environ 50 millions $ d'EBITDA ajusté proforma en 2024. L'activité emploie environ 900 personnes dans le monde et se spécialise dans les emballages pour produits pharmaceutiques, biologiques et vaccins.
La transaction, dont la clôture est prévue d'ici la fin 2025, permettra à Sonoco de rationaliser ses opérations en deux segments mondiaux principaux. Le produit net servira à réduire la dette, la société prévoyant une baisse de son ratio d'endettement net à environ 3,5x.
Sonoco (NYSE:SON) hat den Verkauf seiner ThermoSafe-Sparte an Arsenal Capital Partners für bis zu $725 Millionen angekündigt. Der Deal sieht $650 Millionen bei Closing vor und eine mögliche zusätzliche Zahlung von $75 Millionen, abhängig von den Ergebnissen 2025.
ThermoSafe, ein führender Anbieter temperaturkontrollierter Verpackungslösungen, erzielte 2024 $240 Millionen Umsatz und rund $50 Millionen proforma bereinigtes EBITDA. Das Geschäft beschäftigt weltweit etwa 900 Mitarbeitende und ist auf Verpackungen für Pharmazeutika, Biologika und Impfstoffe spezialisiert.
Die Transaktion, deren Abschluss bis Ende 2025 erwartet wird, soll Sonoco helfen, seine Aktivitäten auf zwei globale Kerngeschäftsbereiche zu fokussieren. Die Nettoerlöse werden zur Schuldenreduzierung verwendet; die erwartete Nettoverschuldungsquote soll auf etwa 3,5x sinken.
- Sale price of up to $725 million represents significant value realization
- Transaction will reduce company's debt and improve leverage ratio to 3.5x
- Strategic streamlining of operations into two core global business segments
- ThermoSafe's strong financial performance with $240M sales and $50M EBITDA in 2024
- Loss of revenue stream from ThermoSafe's $240M annual sales
- Reduction in business diversification by exiting temperature-assured packaging segment
Insights
Sonoco's $725M ThermoSafe sale completes strategic transformation, reduces leverage to 3.5x, and streamlines operations into core packaging segments.
Sonoco's decision to divest its ThermoSafe temperature-assured packaging business marks the culmination of a strategic portfolio transformation that has been reshaping the company's identity and financial structure. The
The deal values ThermoSafe at approximately 13x EBITDA (based on the
Strategically, this divestiture completes Sonoco's evolution from a diversified packaging conglomerate into a more focused operator with two core global business segments. The company is prioritizing debt reduction by applying proceeds toward lowering its leverage ratio to approximately 3.5x, enhancing financial flexibility and strengthening the balance sheet.
For investors, this transaction delivers three key benefits: 1) improved strategic clarity with a more streamlined business model, 2) enhanced financial flexibility through debt reduction, and 3) the potential for improved operating margins as management focuses resources on core competencies in metal and fiber packaging. The divestiture timing also suggests management has confidence in the remaining business segments to drive organic growth going forward.
ThermoSafe Sale Completes Company’s Transformation into a Global Metal and Fiber Packaging Leader
Net Proceeds to be Used to Reduce Debt
HARTSVILLE, S.C., Sept. 08, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), a global leader in high-value sustainable packaging, today announced it has signed a definitive agreement to sell its ThermoSafe business unit (“ThermoSafe”), which is one of the leading providers of temperature-assured packaging, 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
Based in Arlington Heights, IL, ThermoSafe is one of the leading global providers of temperature-controlled packaging solutions ensuring the safe and efficient transport of pharmaceuticals, biologics, vaccines and other temperature-sensitive products. In 2024, the business generated over
“With the planned sale of ThermoSafe, we are completing the next step in Sonoco’s portfolio transformation, which has resulted in significantly streamlining our operations from a large portfolio of diversified businesses into two core global business segments. This simplified structure features incredibly robust businesses with industry leadership and sustainable futures serving large global customers,” said Howard Coker, President and CEO. “Our transformation enables us to deliver more sustainable growth that build on our strengths and allow us to drive value for our customers. Sonoco is proud of what we have accomplished in building ThermoSafe into one of the industry’s leading players while more than doubling revenues since 2012 and substantially improving technology and product offerings serving our customers’ ever-changing needs. We thank the entire ThermoSafe team for their years of delivering quality products and providing outstanding customer service on behalf of Sonoco. We know their knowledge, experience and leadership will be greatly valued by their new owner and wish the entire team continued success in the future.”
Proforma for the transaction, the expected net proceeds from the divestiture, excluding any additional consideration, are projected to further reduce Sonoco’s net leverage ratio (defined as second quarter total debt less cash and expected net proceeds divided by the midpoint of our 2025 adjusted EBITDA guidance range less ThermoSafe’s pro forma adjusted EBITDA) to approximately 3.5x.
Morgan Stanley & Co. LLC acted as financial advisor to Sonoco. Freshfields LLP acted as Sonoco’s legal advisor. Kirkland & Ellis LLP acted as legal advisor to Arsenal.
Third Quarter Financial Results
Sonoco will report its third quarter 2025 financial results on Wednesday, October 22, 2025, after the market closes. The Company’s management will host a conference call to discuss those results on Thursday, October 23, 2025, at 8:00 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/. A webcast replay will be available on the Company's website for at least 30 days following the call.
| Event: | Sonoco Third Quarter 2025 Earnings Webcast |
| Time: | Thursday, October 23, 2025, at 8:00 a.m. Eastern Time |
| Audience Dial-In: | To listen via telephone, please register in advance at https://registrations.events/direct/Q4I122820 Participants will receive their unique dial in details with a PIN by email to join the conference call upon registration. |
| Webcast Link: | https://events.q4inc.com/attendee/279947774 |
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
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 timing of the closing of the transaction; the ability of the parties to complete the transaction considering the various closing conditions; 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 that the transaction will not be completed on the timing or terms the Company anticipates, or at all; the ability to receive regulatory approvals for the transaction in a timely manner, on acceptable terms or at all, or to satisfy the other closing conditions to the transaction; 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 announcement or 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
How much is Sonoco selling ThermoSafe for?
What are ThermoSafe's financial metrics before the sale?
How will the ThermoSafe sale affect Sonoco's debt?
When will Sonoco's sale of ThermoSafe be completed?
What is Arsenal Capital Partners' role in the ThermoSafe acquisition?
