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Sonoco Completes Strategic Review, Announces Agreement to Sell Thermoformed and Flexibles Packaging (TFP) Business to TOPPAN Holdings Inc. - Sonoco Prods (NYSE:SON)

Summary by Benzinga
HARTSVILLE, S.C., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company ("Sonoco" or the "Company") (NYSE:SON), a global leader in high-value sustainable packaging, today announced it has entered into an agreement to sell its Thermoformed and Flexibles Packaging business ("TFP") to TOPPAN Holdings Inc. ("Toppan") for approximately $1.8 billion on a cash-free and debt-free basis and subject to customary adjustments (the "Transaction"). The …
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