ThermoSafe is one of the leading global providers of temperature-controlled packaging solutions.
Sept. 9, 2025 - Sonoco on Sept. 8 announced it has signed a definitive agreement to sell its ThermoSafe business unit, which is one of the leading providers of temperature-assured packaging, to Arsenal Capital Partners, a private equity investment firm, 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 ("additional consideration") if certain performance measures for calendar year 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.
Net proceeds from the transaction are expected to be used to repay existing debt.
"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 of Sonoco.
Based in Arlington Heights, Illinois, ThermoSafe is one of the leading global providers of temperature-controlled packaging solutions ensuring the safe and efficient transport of pharmaceuticals, biologics, vaccines and other temperature-sensitive products. In 2024, the business generated over $240 million in sales and approximately $50 million in proforma adjusted EBITDA.
ThermoSafe employs approximately 900 associates working in operations in the Americas, EMEA and Asia.
Founded in 1899, Sonoco (NYSE: SON) is a global leader in value-added, sustainable metal and fiber consumer and industrial packaging. The company is now a multi-billion-dollar enterprise with approximately 23,400 employees working in 285 operations in 40 countries.
SOURCE: Sonoco