SONOCO PRODUCTS CO (SON): M&A transaction — Sonoco completes $1.8B sale of Thermoformed & Flexibles Packaging to Toppan; proceeds to reduce debt

SONOCO PRODUCTS CO

Sold TFP and global Trident business to TOPPAN Holdings for $1.8B cash, subject to customary adjustments.
After-tax cash proceeds of ~$1.5B will be used to reduce leverage, per CEO Howard Coker.
Transaction includes ~4,500 employees moving to Toppan; Sonoco to focus on sustainable metal and fiber packaging.
Sonoco will report Q1 2025 results on April 29, 2025, with a conference call on April 30.

item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SONOCO PRODUCTS CO completed a disposition involving TOPPAN Holdings Inc. for $1.8 billion (closed 2025-04-01).

Action: disposition
Counterparty: TOPPAN Holdings Inc.
Consideration: $1.8 billion
Closing: 2025-04-01

Exact text from the filing

Inc., a Japanese corporation (“ Buyer ”) (such sale, the “ Transaction ”). Under the terms of the Purchase Agreement, the aggregate cash purchase price paid by Buyer was $1.8 billion, as adjusted in accordance with the terms of the Purchase Agreement and subject to customary post-closing adjustments as set forth in the Purchase Agreement. In connection with

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Source: SEC EDGAR

accession 0001104659-25-030277

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