{"id":6259,"date":"2025-04-02T03:37:17","date_gmt":"2025-04-02T07:37:17","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=6259"},"modified":"2025-04-02T03:37:17","modified_gmt":"2025-04-02T07:37:17","slug":"toppan-closes-1-8bn-acquisition-of-sonocos-tfp-business","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=6259","title":{"rendered":"TOPPAN closes $1.8bn acquisition of Sonoco\u2019s TFP business"},"content":{"rendered":"


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The move is set to enhance TOPPAN\u2019s global footprint in the sustainable packaging sector. Credit: Casimiro PT \/ Shutterstock.<\/figcaption><\/figure>\n<\/p><\/div>\n

TOPPAN Holdings has finalised the acquisition of Sonoco Products Company\u2019s Thermoformed and Flexibles packaging (TFP) business in the US for approximately $1.8bn, on a cash-free and debt-free basis.<\/p>\n

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The acquisition<\/a>, which was announced in December last year, is expected to enhance TOPPAN\u2019s global footprint in the sustainable packaging sector.<\/p>\n

TOPPAN Global Packaging business head and TOPPAN Incorporated managing executive officer Masahiko Tatewaki said: \u201cThe integration of Sonoco TFP into the TOPPAN Group is a significant step to enhance our customer experience and provide our solutions on a global scale.<\/p>\n

\u201cWe are extremely excited to welcome the experienced and talented Sonoco TFP team to the TOPPAN Group.\u201d<\/p>\n

The TFP segment is a prominent player in the thermoformed and flexible packaging market, providing solutions for a wide range of industries.<\/p>\n

Specifically, it serves customers in sectors such as food, retail, and healthcare, with packaging solutions for snacks, condiments, and pet food. It also caters to fresh products, coffee, and healthcare items.<\/p>\n

The integration of TFP complements TOPPAN\u2019s existing operations by combining Sonoco\u2019s sales network and customer base with TOPPAN\u2019s advanced technical expertise and manufacturing capabilities.<\/p>\n

With the formal completion of the transaction, TFP will now operate under the TOPPAN brand.<\/p>\n

TFP\u2019s financial results will be reported within TOPPAN\u2019s Living & Industry segment, reflecting the integration of the business into the wider group.<\/p>\n

Sonoco president and CEO Howard Coker said: \u201cToday marks a milestone in achieving our strategy to transform Sonoco into a simpler, stronger and more sustainable company.<\/p>\n

\u201cWe extend our best wishes for continued success to our approximately 4,500 former TFP teammates and their new TOPPAN team. As previously communicated, we are utilising the approximately $1.5bn of after-tax cash proceeds to reduce leverage.<\/p>\n

\u201cSonoco is moving forward with a focused portfolio and an improved financial position that will enable us to further invest in growing our sustainable metal and fibre consumer and industrial packaging businesses.\u201d<\/p>\n

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