Sonoco's TFP business serves a diverse range of sectors such as the food, retail, and medical segments. TFP's revenue stood at approximately $1.3bn in 2023 on a pro forma standalone basis.

TOPPAN Holdings has finalised the acquisition of Sonoco Products Company’s Thermoformed and Flexibles packaging (TFP) business in the US for approximately $1.8bn, on a cash-free and debt-free basis.