Agreement reached on acquisition of Sonoco’s TFP business as TOPPAN Group accelerates expansion of sustainable packaging business in Americas

TOKYO, Dec. 19, 2024 /PRNewswire/ — TOPPAN Holdings Inc. (TYO: 7911) (TOPPAN Holdings) has entered into an agreement with Sonoco Products Company (NYSE: SON) (Sonoco), a global leader in high-value sustainable packaging, to acquire Sonoco’s Thermoformed & Flexible Packaging (TFP) business for approximately $1.8 billion on a cash-free and debt-free basis and subject to customary adjustments.

This acquisition is highly complementary, combining the robust sales network, customer base, and solution development capabilities of Sonoco’s TFP business in North and South America with the technical expertise and manufacturing capabilities of TOPPAN Group’s global packaging business.

Sonoco’s TFP is a leading thermoformed and flexible packaging business serving a wide range of customers in food, retail, and medical verticals. TFP provides a variety of complex packaging to value-added categories including snacks, condiments, healthcare, prepared meals, fresh products, coffee, and pet food. On a pro forma standalone basis, TFP had revenue of approximately $1.3 billion in 2023.

“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,” said Hideharu Maro, Representative Director, President & CEO of TOPPAN Holdings. “This is an essential milestone in the TOPPAN Group’s global strategy to scale the sustainable packaging business.”

This transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025.

The TOPPAN Group’s Strategy

The TOPPAN Group aims to be a leading solution provider addressing global issues. Under the current medium-term-strategy, the TOPPAN Group has been transforming its portfolio, and one of its key strategies is to drive sustainable packaging solutions at global scale.

The vision of the TOPPAN Group’s packaging business is “Change the World through Packaging Innovation,” and its mission is to “Foster a society focused on well-being and sustainability, while safeguarding our planet for future generations, through the continuous development of innovative packaging solutions that explore cutting-edge materials and technologies.”

The TOPPAN Group has been driving innovation in the development of sustainable packaging solutions by establishing a global supply chain from film manufacturing to packaging manufacturing and optimizing cost to meet brand owners’ needs locally and globally.

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Advisors
Houlihan Lokey is acting as lead financial advisor and Morrison & Foerster LLP is acting as legal advisor to TOPPAN. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. is also acting as financial advisor to TOPPAN.

Goldman Sachs & Co. LLC is acting as lead financial advisor and Freshfields LLP is acting as legal advisor to Sonoco. RBC Capital Markets, LLC is also acting as financial advisor to Sonoco.

About the TOPPAN Group

Established in Tokyo in 1900, the TOPPAN Group is a leading and diversified global provider committed to delivering sustainable, integrated solutions in fields including printing, communications, security, packaging, décor materials, electronics, and digital transformation. The TOPPAN Group’s global team of more than 50,000 employees offers optimal solutions enabled by industry-leading expertise and technologies to address the diverse challenges of every business sector and society and contribute to the achievement of shared sustainability goals.

https://www.holdings.toppan.com/en/
https://www.linkedin.com/company/toppan/

About Sonoco’s TFP

Sonoco’s TFP business has a strong customer base and manufacturing footprint in North America and South America with approximately 4,500 employees in 22 manufacturing plants, over 700 patents, and design capability across 10 countries.

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WASHINGTON, Dec. 19, 2024 /PRNewswire/ — The global law firm Jones Day announces that the 37 lawyers listed below will be admitted to the Firm’s partnership effective January 1, 2025.

“This class of new partners once again reflects Jones Day’s ability to provide our valued clients the guidance and legal solutions for their most complex business challenges across the globe,” said Gregory M. Shumaker, Managing Partner of Jones Day.

The full announcement is also available on Jones Day’s website. The list follows:

1. Rebecca Wernicke Anthony, Business & Tort Litigation, Dallas                                
2. Matthew Barrett, Corporate, London                                                            
3. Joseph C. Barry, Financial Markets, Cleveland                                                                     
4. Irina K. Bleustein, Securities Litigation & SEC Enforcement, Washington    
5. Mathis Bredimus, Corporate, London                                    
6. Kelsey S. Bryan, Business & Tort Litigation, Los Angeles       
7. Emily W. Cai, Corporate, New York
8. Diana L. Calla, Business & Tort Litigation, San Francisco      
9. Andrew J. Clopton, Issues & Appeals, Detroit                                    
10. Arturo de la Parra, Financial Markets, Mexico City                          
11. Adrien Descoutures, Corporate, Paris
12. Preslava Dilkova, Government Regulation, Brussels
13. Amanda L. Dollinger, Financial Markets, New York
14. Anna A. Dwyer, Real Estate, Chicago
15. Justin P. Farra, Corporate, Columbus
16. Matthew J. Gherlein, Financial Markets, Cleveland
17. Fabio Maria Guidi, Financial Markets, Milan
18. Ryan Harmanis, Business & Tort Litigation, Columbus
19. Jared P. Hasson, Corporate, Cleveland                                  
20. Andrew D. Iammarino, Financial Markets, Cleveland
21. Kurt A. Johnson, Detroit, Issues & Appeals
22. Andrew J. Junker, Business & Tort Litigation, Dallas
23. Thomas S. Koglman, Intellectual Property, Cleveland
24. Laura E. Koman, Health Care & Life Sciences, Washington  
25. Marta Lahuerta Escolano, Government Regulation, Paris
26. Justin D. Martin, Labor & Employment, Miami
27. Alexander V. Maugeri, Government Regulation, New York
28. Justin W. McKithen, Financial Markets, Atlanta
29. Karl S. Moussalli, Global Disputes, London
30. Victoria Cuneo Powell, Business & Tort Litigation, Atlanta
31. Gabrielle E. Pritsker, Business & Tort Litigation, Washington
32. Kaitlinn P. Sliter, Corporate, Chicago 
33. Bijan Tavakoli, Government Regulation, Frankfurt
34. Jessica Tierney, Health Care & Life Sciences, Washington    
35. Collin L. Waring, Real Estate, Dallas 
36. Ann-Marie Woods, Labor & Employment, Chicago
37. Jason Z. Zhou, Business & Tort Litigation, Chicago    

Jones Day is a global law firm with more than 2,400 lawyers in 40 offices across five continents. The Firm is distinguished by: a singular tradition of client service; the mutual commitment to, and the seamless collaboration of, a true partnership; formidable legal talent across multiple disciplines and jurisdictions; and shared professional values that focus on client needs.

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• Homeowners are wasting £100s on professional household repairs
• Going DIY on chair and fence fixes could save Brits up to £400
• Evolution Power Tools reveals where to pick up FREE wood & cut costs down

SHEFFIELD, England, Dec. 18, 2024 /PRNewswire/ — Nobody likes being faced with worn, damaged or faulty objects around the house – but before Brits rush out and spend £100s on replacements or repairs, it’s worth considering the DIY approach.

DIY enthusiasts from Evolution Power Tools reveal how common household issues can easily be fixed – without needing to spend much on multiple tools and materials in the process.

“With just weeks until Christmas, we’d much rather spend our money on gifts for loved ones instead of forking out for furniture repairs.

“We always encourage homeowners to repair and not replace. What’s more, repairing furniture yourself can be a rewarding experience and doesn’t have to cost as much as you might think.

“For example, when your chair has wobbly legs, it’s tempting to buy a replacement – or pay for professional repairs.

“It might sound cost-savvy to get a repair, but getting the professionals in can cost more than you’d think.

“The average professional chair leg repair can cost up to £300.

“But by using a mitre saw, timber, screws, glue and sandpaper, you can get the job done yourself for a fraction of the price.

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“If you don’t have a saw of your own, ask friends and family if you can borrow one.

“Plus, did you know you can pick up timber for free by browsing Facebook Marketplace or asking local construction sites if they have any scraps going?

“Then you can pick up screws, wood glue and sandpaper from B&Q for under £20 – saving you over £280!

“Similarly, a broken fence can feel like a nightmare – but you don’t have to call in a professional and pay in the region of £150.

“One solution is getting hold of some pallet wood – and this doesn’t have to cost a penny.

“Depending on where you live, your local IKEA may be getting rid of excess supplies – so you may find wood available to pick up for free.

“Then all you need is a hand saw or circular saw – which you may have, or could borrow – plus a hammer and nails, measuring tape and a level.

“Most people will have these supplies at home – which means you could save the best part of £150!”

Top 5 tips for picking up free wood

1. Ask local businesses. If you see a supermarket worker emptying a pallet of products, ask if the wood is being thrown away. If so, you may be able to grab it for free.
2. Go to your local recycling facility. Many people will dispose of excess materials, including wood, by taking it to the tip. All you have to do is ask the staff if you can take it.
3. Visit IKEA. Certain branches will make their surplus materials available for free. The scheme isn’t always running, but it’s worth keeping an eye out!
4. Check online marketplaces. Sites like Facebook Marketplace have a surprising amount of supplies going for free, as people just want to get rid of it.
5. Construction sites. These places may be glad to have someone pick up excess materials, as it saves them having to dispose of it.

“If you’ve got multiple furniture repairs to carry out, it can be cost-efficient to buy a tool with a multi-material cutting blade.

“Featuring a Japanese Tungsten Carbide Teeth blade, these versatile tools will simplify your toolkit, while allowing you to carry out DIY projects with ease

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“Our multi-material cutting tools provide clean and accurate cuts through a variety of materials, including wood, metal, plastics and even wood with nails,  

“Gone are the days of homeowners needing to constantly swap blades or purchase specialist equipment. Now, you can rely on one tool to do it all, making DIY much more efficient and enjoyable. 

“By investing in versatile tools or borrowing existing equipment, you can avoid unnecessary costs and breathe new life into your household items at a fraction of the price.”

About the company: Evolution Power Tools is a global leader in multi-material technology, with over 30 years in the industrial power tool market. 

They are part of a growing movement which encourages homeowners to feel empowered when carrying out DIY, and as such, design tools that help to tackle a variety of tasks without the need for expertise.

Evolution Power Tools never compromise on performance, and their patented technology is no exception, it is reliable with a 3 guarantee, accurate, ergonomic, and powerful for the most precise cuts on a multitude of materials.

• Pricing information accurate at the time of submission
• Cost of smaller supplies for DIY fixes have been sourced from B&Q
• We would appreciate a link to the Evolution Power Tools website within the copy, if you decide to publish the article
• Evolution Power Tools is based in the steel city of Sheffield and has a worldwide reputation for premium and professional tools.
• Their tools have been featured on TV shows including Top Gear, DIY SOS, and Grand Designs

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