{"id":10115,"date":"2025-11-04T03:42:23","date_gmt":"2025-11-04T08:42:23","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=10115"},"modified":"2025-11-04T03:42:23","modified_gmt":"2025-11-04T08:42:23","slug":"sonoco-concludes-725m-divestment-of-thermosafe-unit","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=10115","title":{"rendered":"Sonoco concludes $725m divestment of ThermoSafe unit\u00a0\u00a0"},"content":{"rendered":"


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ThermoSafe specialises in temperature-controlled packaging for pharmaceuticals, biologics, vaccines, and other healthcare products. Credit: Piotr Swat\/ Shutterstock.com <\/figcaption><\/figure>\n<\/p><\/div>\n

South Carolina, US-based sustainable packaging solutions provider Sonoco Products Company has completed the divestment of its ThermoSafe business unit to Arsenal Capital Partners for $725m.\u00a0\u00a0\u00a0<\/p>\n

The deal was first announced in September<\/a> 2025.\u00a0<\/p>\n

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The transaction comprises $650m paid at closing on a cash-free, debt-free basis, with a further payment of up to $75m contingent on meeting specified performance targets for the calendar year 2025.\u202f\u00a0<\/p>\n

Net proceeds will be applied towards repaying existing borrowings.\u00a0<\/p>\n

Pro forma for the divestment and excluding any contingent consideration, Sonoco projects that expected net proceeds will lower its net leverage ratio to x 3.4.\u00a0<\/p>\n

President and CEO Howard Coker stated: \u201cThe completion of the sale of ThermoSafe substantially concludes Sonoco\u2019s portfolio transformation, which simplified our operations from a large portfolio of businesses into two core global business segments focused on metal and paper consumer and industrial packaging.\u00a0\u00a0<\/p>\n

\u201cSonoco is proud of what we have accomplished in building ThermoSafe into one of the industry\u2019s leading players.\u00a0\u00a0<\/p>\n

ThermoSafe, headquartered in Arlington Heights, Illinois, supplies temperature assurance technologies used in the transport of pharmaceuticals, biologics, vaccines and other healthcare products.\u00a0\u00a0<\/p>\n

Its range spans parcel shippers as well as bulk and reusable solutions designed to maintain refrigerated, frozen and controlled room-temperature conditions. Through ISC Labs, the business offers customised design and testing, packaging solutions, and qualification and validation services aligned with regulatory standards.\u00a0<\/p>\n

In 2024, the business reported sales exceeding $240m and $50m in proforma adjusted earnings before interest, taxes, depreciation and amortisation.\u00a0<\/p>\n

Morgan Stanley & Co. advised Sonoco on the financial aspects of the deal, with Freshfields serving as legal counsel.\u00a0\u00a0<\/p>\n

Arsenal Capital Partners was advised by Raymond James and represented legally by Kirkland & Ellis.\u00a0<\/p>\n

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