Sustainable packaging solutions provider Sonoco Products Company has completed the divestment of its ThermoSafe business unit to Arsenal Capital Partners for $725m. The deal was first announced in September this year. The transaction comprises$650m paid at closing on a cash-free, debt-free basis, with a further payment of up to $75m contingent on meeting specified performance targets for calendar year 2025. Sonoco said net proceeds will be applied towards repaying existing borrowings. Pro forma for th ...