Sonoco sells ThermoSafe to Arsenal Capital Partners for up to $725M; proceeds to reduce debt

SONOCO PRODUCTS CO

Total purchase price up to $725M: $650M at closing plus up to $75M earnout based on 2025 performance.
ThermoSafe 2024 sales over $240M, proforma adjusted EBITDA ~$50M.
Net proceeds expected to reduce debt; net leverage ratio to ~3.5x proforma.
Transaction subject to regulatory approval, expected to close by end of 2025.
Sale completes Sonoco's transformation into a global metal and fiber packaging leader.

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