September 11, 2025 14:40

U.S.-based packaging systems manufacturer Sonoco has signed a definitive agreement to divest its ThermoSafe operations in temperature-controlled packaging solutions to private equity firm Arsenal Capital Partners.

The total transaction value may reach $725 million, including $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 2025 are met.
The transaction is subject to customary closing conditions, including regulatory review, and is expected to be completed by the end of 2025.

Headquartered in Arlington Heights, Illinois, ThermoSafe is among the leading global providers of temperature-controlled packaging, used for the transport of pharmaceuticals, biologics, vaccines and other temperature-sensitive products. The product portfolio includes EPS, polyethylene, cardboard, phase-change materials (PCM), and other insulating solutions.
In fiscal year 2024, the division generated more than $240 million in sales and approximately $50 million in pro forma adjusted EBITDA, employing around 900 people with operations across the Americas, EMEA and Asia.

Once the divestiture is complete, Sonoco will focus exclusively on metal and fiber-based packaging.

“With the planned sale of ThermoSafe, we are completing the next step in Sonoco’s 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,” said Howard Coker, president and CEO.

© Polimerica -  Reproduction prohibited, all rights reserved