Sonoco completes sale of ThermoSafe to Arsenal for up to $725M

SONOCO PRODUCTS CO

Total purchase price up to $725M: $650M at closing (cash-free, debt-free) plus up to $75M in 2025 performance-based consideration.
Net proceeds from the divestiture will be used to repay existing debt.
Proforma net leverage ratio projected at ~3.4x (excluding additional consideration).
Sale concludes Sonoco's portfolio transformation into two core segments focused on metal and paper consumer/industrial packaging.
Transaction closed on November 3, 2025; financial advisor was Morgan Stanley & Co. LLC.

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