Sonoco Completes Sale of ThermoSafe Unit to Arsenal Capital Partners

Core Insights - Sonoco Products Company has completed the sale of its ThermoSafe business unit to Arsenal Capital Partners for a total purchase price of up to $725 million, which includes $650 million payable at closing and up to $75 million contingent on performance measures in 2025 [1][2] - The sale is part of Sonoco's strategy to simplify its operations, focusing on two core global business segments: metal and paper consumer and industrial packaging [2] - The expected net proceeds from the divestiture are projected to reduce Sonoco's net leverage ratio to approximately 3.4x [2] Company Overview - Sonoco, founded in 1899, is a global leader in sustainable metal and fiber packaging, operating in 40 countries with approximately 23,400 employees [4] - The company emphasizes innovation and sustainability, aiming to provide better packaging solutions and has been recognized as one of America's Most Admired and Responsible Companies [4] ThermoSafe Overview - ThermoSafe is recognized as a leader in temperature assurance technologies, providing solutions for the safe transport of pharmaceuticals and healthcare products [6] - The company offers a comprehensive portfolio that includes parcel shippers and bulk solutions, ensuring compliance with stringent regulatory requirements [6] Arsenal Capital Partners Overview - Arsenal Capital Partners specializes in building market-leading industrial growth and healthcare companies, having raised over $10 billion since its inception in 2000 [5] - The firm focuses on partnering with management teams to develop strategically important companies with high growth potential [5]