TOPPAN to Acquire Sonoco’s Thermoformed & Flexible Packaging Business for $1.8 Billion
January 9, 2025TOPPAN Holdings has announced a $1.8 billion deal to acquire Sonoco Products Company’s Thermoformed & Flexible Packaging (TFP) business. The transaction, expected to close in the first half of 2025, aims to enhance TOPPAN’s global packaging operations by integrating TFP’s customer base and expertise.
TFP generated $1.3 billion in revenue in 2023 and serves industries including food, retail, and medical. TOPPAN’s CEO, Hideharu Maro, highlighted the acquisition as a key step in advancing the company’s sustainable packaging strategy.
Sonoco CEO Howard Coker stated the sale supports the company’s focus on industrial paper and consumer packaging. The deal follows Sonoco’s recent acquisition of Eviosys, reflecting a strategic realignment within the packaging sector.
