Morrison Foerster (MoFo) has advised TOPPAN Holdings Inc. (TYO: 7911) (“TOPPAN”) on its acquisition of the Thermoformed & Flexibles Packaging (“TFP”) arm of Sonoco Products Company (NYSE: SON) (“Sonoco”) for a purchase price of approximately US$1.8 billion.
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.
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.
The acquisition closed on April 01, 2025.
MoFo’s global deal team was led by Jeremy White, Global Co-Chair of MoFo’s M&A Practice and associate May Sakai (Tokyo), supported by Corporate/M&A associates Bryce Gray, Letian Ge, Shunji Fueki, Sarah Ishikawa, and Hilary Lee (Tokyo); Antitrust partner Kerry Jones (Washington D.C.), and associate Teodora Peevska (Brussels); Tax partner Matthew Lau (Hong Kong); Technology Transactions partner Aya Eguchi (San Francisco) and associates Agnes Petrucione (Tokyo) and Yeram Choi (New York); Employment + Labor of counsel Oliver Spratt (London), associates Melissa Harclerode and Keniece Gray (Washington D.C.); Executive Compensation + Benefits of counsel Brooke Monahan (San Francisco) and associate Sarah Doberneck (San Francisco); associate Timothy Lau (Singapore); associate Siyu Gao (Shanghai); and associates Omid Kheradmand and Carlotta Pregnolato (London).
