Item 2.01 Completion of Acquisition or Disposition of Assets.
OnDecember 31, 2019 ,Sonoco Products Company (the "Company"), completed the acquisition ofThermoform Engineered Quality, LLC , andPlastique Holdings, LTD , (together "TEQ"), from ESCO Technologies, Inc, subject to the terms and conditions of the Equity Purchase Agreement datedNovember 15, 2019 and filed in the Company's Form 8-K onNovember 19, 2019 , for net cash of approximately$187 million . The Company funded the transaction using short-term credit facilities. As is typical, final consideration will be subject to a post-closing adjustment for the change in net working capital to the date of closing. The operations acquired consist of three thermoforming and extrusion facilities inthe United States along with a thermoforming operation in theUnited Kingdom and thermoforming and molded-fiber manufacturing inPoland , which together employ approximately 500 associates. These facilities are capable of producing sterile, barrier packaging systems for pharmaceuticals and medical devices and recyclable molded pulp fiber packaging and thermoformed plastic packaging for multiple consumer products. The acquisition of TEQ provides a strong platform to further expandSonoco's growing healthcare packaging business. TEQ's financial results will be reported within the Company'sConsumer Packaging segment. Financial statements of TEQ and pro forma information are not included in this Form 8-K as the criteria under Rule 3-05(b) and Article 11, respectively, of Regulation S-X were not met. A copy of the news release issued bySonoco announcing the completion of this acquisition is being filed as Exhibit 99 to this Current Report on Form 8-K and is incorporated by reference herein. For additional information regarding TEQ, reference is made to the Company's Form 8-K filed onNovember 19, 2019 .
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Index 99 News Release datedJanuary 2, 2020 , announcing
completion of the acquisition
of TEQ 101.INS XBRL Instance Document - the instance document
does not appear in the
Interactive Data File because its XBRL tags are
embedded within the Inline XBRL
document 101.SCH Inline XBRL Taxonomy Extension Schema Document 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document Exhibit 104 Cover Page Interactive Data File (formatted as
Inline XBRL and contained in
Exhibit 101)
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