Industry News, Mergers and Acquisitions, Printers News

Sonoco Completes Sale of TFP Business to TOPPAN Holdings

Proceeds being used to reduce approximately $1.5 billion in debt.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Sonoco Products Company announced it has completed the sale of its Thermoformed and Flexibles Packaging business (TFP) to TOPPAN Holdings Inc. for a purchase price of approximately $1.8 billion on a cash-free and debt-free basis and subject to customary adjustments. “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 thei...

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