TOPPAN Holdings Inc., a leading global provider of integrated solutions, has announced an agreement to acquire Sonoco Products Company's Thermoformed and Flexible Packaging (TFP) business for approximately $1.8 billion. This strategic acquisition is expected to significantly enhance TOPPAN's presence in the sustainable packaging market across the Americas.

Sonoco's TFP division is renowned for its extensive range of packaging solutions, catering to sectors such as food, retail, and medical industries. The business boasts a robust customer base and operates 22 manufacturing plants across North and South America, employing approximately 4,500 individuals. In 2023, the TFP division reported revenues of around $1.3 billion. :contentReference[oaicite:0]{index=0}

Hideharu Maro, Representative Director, President & CEO of TOPPAN Holdings, expressed enthusiasm about the acquisition, stating, "We are extremely pleased to have the opportunity to bring Sonoco’s TFP business to the TOPPAN Group. In order to accelerate our strategy to become a global leader in sustainable packaging solutions, we will employ the complementary strengths of both parties to drive growth, solve customers’ needs and create significant value for our shareholders." :contentReference[oaicite:1]{index=1}

This transaction aligns with TOPPAN's strategic vision of expanding its sustainable packaging solutions on a global scale. By integrating Sonoco's TFP business, TOPPAN aims to leverage combined strengths to drive growth and address customer needs more effectively. :contentReference[oaicite:2]{index=2}

The acquisition is subject to customary closing conditions, including regulatory approvals, and is anticipated to be finalized in the first half of 2025. :contentReference[oaicite:3]{index=3}

Advisors for the transaction include Houlihan Lokey and Morrison & Foerster LLP for TOPPAN, and Goldman Sachs & Co. LLC and Freshfields LLP for Sonoco. :contentReference[oaicite:4]{index=4}

Established in Tokyo in 1900, TOPPAN Holdings Inc. is a diversified global provider committed to delivering sustainable, integrated solutions across various fields, including printing, communications, security, packaging, décor materials, electronics, and digital transformation. :contentReference[oaicite:5]{index=5}

Sonoco Products Company, headquartered in Hartsville, South Carolina, is a global leader in high-value sustainable packaging, serving some of the world’s best-known brands. With net sales of approximately $6.8 billion in 2023, Sonoco operates in more than 300 locations worldwide. :contentReference[oaicite:6]{index=6}