Sonoco boosts healthcare packaging business with TEQ buy Global packaging company Sonoco (Hartsville, SC) announced today that it has completed the acquisition of Thermoform Engineered Quality LLC and Plastique Holdings Ltd. (together TEQ), a global manufacturer of thermoformed packaging serving the medical device and consumer markets. Sonoco acquired TEQ from ESCO Technologies Inc. for $187 million in cash in the deal, which was first announced in November 2019. Headquartered in Huntley, IL, TEQ reported sales of $87 million in the fiscal year ended Sept. 30, 2019. The company operates three thermoforming and extrusion facilities in the United States along with a thermoforming operation in the United Kingdom, and thermoforming and molded-fiber manufacturing in Poland. Each facility has state-of-the-art cleanroom capabilities enabling the production of sterile, barrier packaging systems for pharmaceuticals and medical devices. In addition, TEQ produces recyclable, molded-pulp-fiber packaging and thermoformed plastic packaging for multiple consumer products primarily in Europe.