Sonoco Products To Sell Its ThermoSafe Business Unit

(RTTNews) - Sonoco Products Company (SON) has signed a definitive agreement to sell its ThermoSafe business unit to Arsenal Capital Partners for a total purchase price of up to $725 million. The purchase price consists of $650 million on a cash-free and debt-free basis payable at closing, and additional consideration of up to $75 million if certain performance measures for calendar year 2025 are met. Net proceeds from the transaction are expected to be used to repay existing debt.

Based in Arlington Heights, IL, ThermoSafe is a global provider of temperature-controlled packaging solutions ensuring the safe and efficient transport of pharmaceuticals, biologics, vaccines and other temperature-sensitive products. ThermoSafe employs approximately 900 associates working in operations in the Americas, EMEA and Asia.