Freshfields is advising Sonoco Products Company (NYSE: SON), a global leader in high-value sustainable packaging, in an agreement to sell its Thermoformed and Flexibles Packaging business (TFP) to TOPPAN Holdings Inc. for approximately $1.8 billion. This sale will accelerate Sonoco’s portfolio simplification strategy and streamline its organizational structure. This transaction is expected to close in first half of 2025. Details of the transaction can be found here.

The Freshfields deal team is led by partners Damien Zoubek and Zheng (Jonathan) Zhou as well as counsels Lisa Cammer and Stella Lee.

The team also included associates Byron Patton, Nana Kessie, Elen Shlyakhanova and Isabelle Cheng on corporate/M&A matters; partners Lori Goodman, Alice Greenwell and Dawn Heath, principal associate Benedikt Sprinzl, senior associate Andrew Leeds and associate Lina Zhu on executive compensation and benefits matters; partner Mena Kaplan, senior associate Marissa Yu and associate Rhea Khakhria on intellectual property and information technology matters; counsel Jeremiah Nelson and associate Casey Hagen on real estate matters; partner Joe Soltis, senior associate Courtney Canning and associate Hannah Golden on tax matters; partners Christine Lyon and Brock Dahl and associate Christine Chong on privacy and data security matters; partner Justin Stewart-Teitelbaum, counsel Elizabeth Suarez, associates Emily Abbott and Mariana Rosa on antitrust matters; partner Pamela Marcogliese, counsel Jeffrey Gould and senior associate Daniel Fox on capital markets matters; partner Kyle Lakin and associates Hadar Tanne and Jordan Phelan on finance matters; and partner Stephanie Brown Cripps and associates Young Park and Grace Brody on anti-bribery and corruption, sanctions and export control matters.