Copyright FreightWaves
Sonoco Products Company has finalized the sale of its ThermoSafe business unit to Arsenal Capital Partners for up to $725 million, with $650 million paid at closing and the potential for an additional $75 million contingent on 2025 performance metrics. This marks a significant milestone in Sonoco’s ongoing portfolio transformation. By offloading ThermoSafe, the company has largely completed the move from a broad variety of businesses toward two core global segments, metal and fiber consumer and industrial packaging. Sonoco’s President and CEO, Howard Coker reflected on the journey: “The completion of the sale of ThermoSafe substantially concludes Sonoco’s 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. Sonoco is proud of what we have accomplished in building ThermoSafe into one of the industry’s leading players. We thank the entire ThermoSafe team for their dedication and wish them and their new owners continued success in the future.” ThermoSafe itself has been a prominent player in the temperature protection technology space, supplying packaging and systems that maintain controlled conditions, ranging from refrigerated to frozen to room temperature, for pharmaceuticals, biologics, vaccines, and other life sciences shipments.
