Sonoco Products Company finalizes acquisition of ThermoSafe

Sonoco Products Company has finalized the merchantability of its ThermoSafe concern portion to Arsenal Capital Partners for up to $725 million, with $650 cardinal paid astatine closing and the imaginable for an further $75 cardinal contingent connected 2025 show metrics.

This marks a important milestone successful Sonoco’s ongoing portfolio transformation. By offloading ThermoSafe, the institution has mostly completed the determination from a wide assortment of businesses toward 2 halfway planetary segments, metallic and fibre user and concern packaging.

Sonoco’s President and CEO, Howard Coker reflected connected the journey: “The completion of the merchantability of ThermoSafe substantially concludes Sonoco’s portfolio transformation, which simplified our operations from a ample portfolio of businesses into 2 halfway planetary concern segments focused connected metallic and insubstantial user and concern packaging. Sonoco is arrogant of what we person accomplished successful gathering ThermoSafe into 1 of the industry’s starring players. We convey the full ThermoSafe squad for their dedication and privation them and their caller owners continued occurrence successful the future.”

ThermoSafe itself has been a salient subordinate successful the somesthesia extortion exertion space, supplying packaging and systems that support controlled conditions, ranging from refrigerated to frozen to country temperature, for pharmaceuticals, biologics, vaccines, and different beingness sciences shipments.

Through its ISC Labs arm, ThermoSafe besides offers plan and investigating services, qualification and validation support, and sustainable packaging solutions to large healthcare and life-sciences firms.

Arsenal Capital Partners, the buyer, is simply a backstage equity steadfast specializing successful gathering high-growth companies successful the concern and healthcare sectors. Since its inception successful 2000, the steadfast has raised much than $10 cardinal of organization equity, completed implicit 300 acquisitions, including level and add-on deals, and realized much than 35 exits. The acquisition of ThermoSafe aligns good with Arsenal’s playbook of partnering with absorption teams and scaling market-leading companies.

For Sonoco, the divestiture opens the doorway to sharpen its strategical absorption and redirect superior toward its halfway operations, portion simplifying its organizational operation and strengthening its equilibrium sheet. While ThermoSafe, this ownership alteration promises caller concern and maturation opportunities nether Arsenal’s stewardship successful the high-demand cold-chain and life-sciences packaging sector.

The station Sonoco Products Company finalizes acquisition of ThermoSafe appeared archetypal connected FreightWaves.