{"id":9164,"date":"2025-09-09T05:32:11","date_gmt":"2025-09-09T09:32:11","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=9164"},"modified":"2025-09-09T05:32:11","modified_gmt":"2025-09-09T09:32:11","slug":"sonoco-to-sell-thermosafe-unit-for-up-to-725m","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=9164","title":{"rendered":"Sonoco to sell ThermoSafe unit for up to $725m"},"content":{"rendered":"


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ThermoSafe, headquartered in Arlington Heights, Illinois, provides temperature-controlled packaging solutions. Credit: JHVEPhoto\/Shutterstock.com.<\/figcaption><\/figure>\n<\/p><\/div>\n

Sustainable packaging solutions provider Sonoco Products Company has agreed to divest its ThermoSafe business unit\u00a0to private equity company Arsenal Capital Partners for up to $725m.<\/p>\n

The deal includes a base purchase price of $650m, with an additional $75m contingent on ThermoSafe\u2019s performance in 2025.<\/p>\n

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The transaction is expected to conclude by the end of 2025.<\/p>\n

The divestment will complete Sonoco\u2019s transition to a \u201cglobal metal and fibre packaging leader\u201d.<\/p>\n

Sonoco president and CEO Howard Coker stated: \u201cWith the planned sale of ThermoSafe, we are completing the next step in Sonoco\u2019s portfolio transformation, which has resulted in significantly streamlining our operations from a large portfolio of diversified businesses into two core global business segments. This simplified structure features incredibly robust businesses with industry leadership and sustainable futures serving large global customers.\u201d\u00a0<\/p>\n

ThermoSafe, headquartered in Arlington Heights, Illinois, provides temperature-controlled packaging solutions, crucial for the safe transportation of sensitive pharmaceuticals and biologics.<\/p>\n

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

ThermoSafe\u2019s portfolio has advanced technology with bio-based insulation and reusable options, serving a wide range of temperature requirements.<\/p>\n

The sale is anticipated to reduce Sonoco\u2019s net leverage ratio to roughly 3.5, excluding any additional consideration from the deal.<\/p>\n

Morgan Stanley & Co provided financial counsel to Sonoco for the transaction. Freshfields served as the legal advisor to Sonoco, while Arsenal took legal assistance from Kirkland & Ellis.<\/p>\n

Coker added: \u201cOur transformation enables us to deliver more sustainable growth that builds on our strengths and allows us to drive value for our customers. Sonoco is proud of what we have accomplished in building ThermoSafe into one of the industry\u2019s leading players while more than doubling revenues since 2012 and substantially improving technology and product offerings serving our customers\u2019 ever-changing needs.\u201d<\/p>\n

In July 2025, Sonoco announced a capital investment of $30m<\/a> in its Orlando, US, facility to increase its production capacity in the adhesives and sealants segment.<\/p>\n

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