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Sonoco Products ( (SON) ) has issued an update.
Sonoco Products Company has announced an agreement to sell its Thermoformed and Flexibles Packaging business to TOPPAN Holdings Inc. for $1.8 billion. This transaction aligns with Sonoco’s strategy to simplify its portfolio and streamline its operations, allowing for more focused investment in its core industrial paper and consumer packaging sectors. The deal is expected to close in the first half of 2025 pending regulatory approvals, and the proceeds will be used to repay existing debt.
More about Sonoco Products
Sonoco Products Company is a global leader in sustainable packaging with net sales of approximately $6.8 billion in 2023. The company employs around 22,000 people across more than 300 operations worldwide, serving renowned brands with innovative packaging solutions. Committed to sustainability, Sonoco emphasizes creating better products for a better world.
YTD Price Performance: -6.12%
Average Trading Volume: 674,041
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $4.96B
See more insights into SON stock on TipRanks’ Stock Analysis page.
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