Sonoco Completes Strategic Review, Announces Agreement to Sell Thermoformed and Flexibles Packaging (TFP) Business to TOPPAN Holdings Inc.
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Sonoco Products Company has agreed to sell its Thermoformed and Flexibles Packaging business to TOPPAN Holdings Inc. for approximately $1.8 billion. This strategic move follows a comprehensive review by Sonoco.
December 18, 2024 | 10:15 pm
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Sonoco has agreed to sell its Thermoformed and Flexibles Packaging business to TOPPAN Holdings for $1.8 billion. This sale is part of a strategic review aimed at focusing on core operations.
The sale of the TFP business for $1.8 billion is a significant strategic move for Sonoco, allowing it to focus on its core operations. This could positively impact Sonoco's stock price as it streamlines its business and potentially improves profitability.
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