Sonoco Products Company (SON) has signed a definitive agreement to sell its ThermoSafe business unit to Arsenal Capital Partners for a total purchase price of up to $725 million. The purchase price consists of $650 million on a cash-free and debt-free basis payable at closing, and additional consideration of up to $75 million if certain performance measures for calendar year 2025 are met. Net proceeds from the transaction are expected to be used to repay existing debt.
Based in Arlington Heights, IL, ThermoSafe is a global provider of temperature-controlled packaging solutions ensuring the safe and efficient transport of pharmaceuticals, biologics, vaccines and other temperature-sensitive products. ThermoSafe employs approximately 900 associates working in operations in the Americas, EMEA and Asia.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.