03:27 AM EDT, 09/05/2024 (MT Newswires) -- Sonoco Products ( SON ) said late Wednesday it is exploring strategic alternatives for its Thermoformed & Flexible Packaging business as part of its portfolio simplification plan.

The business had $1.3 billion in revenue in 2023 on a pro forma standalone basis, the company said.

The review process is expected to be completed in Q4.

Sonoco also said it now expects to fund its Eviosys acquisition through debt and/or cash, instead of issuing equity.

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