Toppan Acquires Sonoco Products' Flexible Packaging Business for $1.8 Billion

MT Newswires Live2024-12-19

Toppan (TYO:7911) is acquiring Sonoco Products' thermoformed and flexible packaging business for $1.8 billion in cash, according to a Tokyo bourse filing on Thursday.

The acquisition is aligned with Toppan's medium-term plan, which emphasizes digital & sustainable transformation.

By expanding its eco-friendly and sustainable packaging offerings, Toppan aims to meet growing environmental demands from international clients.

New subsidiaries in the US and other countries will execute the acquisition, the filing said.

The final acquisition price will be adjusted based on net interest-bearing liabilities at the transaction's execution.

Price (JPY): $4158.00, Change: $-24, Percent Change: -0.57%

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