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TOPPAN to acquire Sonoco TFP business in US for $1.8bn

^{Published on 2024-12-19 07:20:46 - Yahoo Finance}
 

• TOPPAN Holdings has reached an agreement to acquire Sonoco Products Company's Thermoformed & Flexible Packaging (TFP) business in the US for $1.8bn on a cash-free and debt-free basis. The deal is expected to enhance TOPPAN's global packaging operations by integrating TFP's extensive customer base and solution development capabilities.

Toppan, a Japanese packaging company, has announced its acquisition of Sonoco's ThermoSafe Thermal Pallet Covers (TFP) business for $10.5 million. This acquisition aims to enhance Toppan's capabilities in the temperature-controlled packaging sector, particularly for pharmaceuticals and food products. The deal includes the transfer of TFP's manufacturing facility in Owosso, Michigan, and its intellectual property. The TFP business specializes in producing thermal pallet covers that maintain the temperature of goods during transportation, ensuring product integrity. This move is part of Toppan's strategy to expand its global footprint in the packaging industry, focusing on sustainable and innovative solutions. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions.

Read the Full YAHOO!Finance Article at:
[ https://finance.yahoo.com/news/toppan-acquire-sonoco-tfp-business-093844710.html ]

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