Agreement reached on acquisition of Sonoco\u2019s TFP business as TOPPAN Group accelerates expansion of sustainable packaging business in Americas. <\/p>\n\n\n\n
TOPPAN Holdings Inc. (TOPPAN Holdings) has entered into an agreement with Sonoco Products Company (Sonoco), a global leader in high-value sustainable packaging, to acquire Sonoco\u2019s Thermoformed & Flexible Packaging (TFP) business for approximately $1.8 billion on a cash-free and debt-free basis and subject to customary adjustments.
This acquisition is highly complementary, combining the robust sales network, customer base, and solution development capabilities of Sonoco\u2019s TFP business in North and South America with the technical expertise and manufacturing capabilities of TOPPAN Group\u2019s global packaging business.<\/p>\n\n\n\n
Sonoco’s TFP is a leading thermoformed and flexible packaging business serving a wide range of customers in food, retail, and medical verticals. TFP provides a variety of complex packaging to value-added categories including snacks, condiments, healthcare, prepared meals, fresh products, coffee, and pet food. On a pro forma standalone basis, TFP had revenue of approximately $1.3 billion in 2023.<\/p>\n\n\n\n
\u201cWe are extremely pleased to have the opportunity to bring Sonoco\u2019s TFP business to the TOPPAN Group. In order to accelerate our strategy to become a global leader in sustainable packaging solutions, we will employ the complementary strengths of both parties to drive growth, solve customers\u2019 needs and create significant value for our shareholders,\u201d said Hideharu Maro<\/strong>, Representative Director, President & CEO of TOPPAN Holdings. \u201cThis is an essential milestone in the TOPPAN Group\u2019s global strategy to scale the sustainable packaging business.\u201d<\/p>\n\n\n\n This transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025.<\/p>\n","protected":false},"excerpt":{"rendered":" Agreement reached on acquisition of Sonoco\u2019s TFP business as TOPPAN Group accelerates expansion of sustainable packaging business in Americas. TOPPAN Holdings Inc. (TOPPAN Holdings) has entered into an agreement with Sonoco Products Company (Sonoco), a global leader in high-value sustainable packaging, to acquire Sonoco\u2019s Thermoformed & Flexible Packaging (TFP) business for approximately $1.8 billion on<\/p>\n","protected":false},"author":1,"featured_media":15475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[75],"tags":[383,281],"class_list":{"0":"post-15474","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-international","8":"tag-sonoco","9":"tag-toppan"},"_links":{"self":[{"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/15474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/comments?post=15474"}],"version-history":[{"count":1,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/15474\/revisions"}],"predecessor-version":[{"id":15476,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/15474\/revisions\/15476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/media\/15475"}],"wp:attachment":[{"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/media?parent=15474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/categories?post=15474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/tags?post=15474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}