April 7, 2025 15:38

Japanese group Toppan has finalized its acquisition of Sonoco’s Thermoformed & Flexibles Packaging (TFP) business, a deal first announced late last year.

The acquired operations include film extrusion and thermoformed packaging facilities serving the food, medical, and pet food sectors. TFP reported pro forma revenue of approximately $1.3 billion in 2023 and employs around 4,500 people across 22 production sites.
The division offers complex packaging solutions for value-added categories including snacks, condiments, healthcare, prepared meals, fresh products, coffee, and pet food.

Now operating under the Toppan umbrella, the TFP division will be led by Russell Grissett and its financials will be reported within Toppan’s “Living & Industry” segment. The existing management team will remain in place to ensure operational continuity.

Alongside the acquisition, Toppan has announced a strategic reorganization, launching two new business units: Toppan Packaging, focused on packaging solutions, and Toppan Specialty Films, dedicated to high-performance films.

With this deal—alongside its recent acquisition of Italian firm Irplast (read) —Toppan further strengthens its position in the global packaging converting industry, now operating more than 60 production sites across 12 countries.

Founded in Tokyo in 1900, the Toppan Group employs 53,000 people and generates annual sales of more than €10.5 billion. Its diversified portfolio includes printing, communications, security, flexible packaging (through Toppan Packaging), decorative materials, electronics, and digital technologies.

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