Sonoco Products Company completes the sale of ThermoSafe to Arsenal Capital Partners for up to $725 million, marking a significant step in its portfolio transformation. ThermoSafe is a key player in temperature protection technology, serving the life sciences industry with packaging and systems for various shipments.

Sonoco’s President and CEO, Howard Coker, reflects on the sale as a milestone in the company’s journey towards focusing on core global segments of metal and paper packaging. ThermoSafe’s expertise includes design, testing, and sustainable packaging solutions for healthcare and life sciences firms.

Arsenal Capital Partners, a private equity firm with a focus on industrial and healthcare sectors, acquires ThermoSafe and plans to support its growth in the cold-chain and life sciences packaging sector. This move allows Sonoco to realign its strategic focus, strengthen its balance sheet, and enhance its core operations.

The divestiture of ThermoSafe enables Sonoco to simplify its organizational structure and redirect capital towards its core operations. Under Arsenal’s ownership, ThermoSafe is poised for fresh investment and growth opportunities in the high-demand cold-chain and life sciences packaging sector.

Read more at Yahoo Finance: Sonoco Products Company finalizes acquisition of ThermoSafe