# Novolex to combine with Pactiv Evergreen, creating a leading food and beverage packaging maker

Novolex and Pactiv Evergreen agreed to combine into a food, beverage and specialty packaging manufacturer, with Pactiv shareholders receiving $18.00 per share in cash. CPP Investments will contribute about US$1 billion and become a significant minority shareholder.

- Type: Acquisition
- Announced: 2024-12-01
- Where: United States
- Value: $6.70B
- Status: announced
- Products: food packaging, beverage packaging, specialty packaging
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Novolex](https://endata.com/companies/331.md) (acquirer)
- [Apollo Global Management](https://endata.com/companies/3851.md) (investor)
- [Pactiv Evergreen](https://endata.com/companies/5024.md) (target)
- [CPP Investments](https://endata.com/companies/12544.md) (investor)
- [Packaging Finance Limited](https://endata.com/companies/12557.md) (partner)

## Sources

- [cppinvestments.com](https://www.cppinvestments.com/newsroom/novolex-and-pactiv-evergreen-inc-to-combine-establishing-a-leading-manufacturer-in-food-and-beverage-packaging/), 2024-12-09: "Novolex and Pactiv Evergreen Inc. ... announced today they have entered into a definitive agreement to combine, creating a leading manufacturer in food, beverage and specialty packaging products."
- [reuters.com](https://www.reuters.com/markets/deals/novolex-take-packaging-products-maker-pactiv-private-67-bln-deal-2024-12-09/), 2024-12-09: "Novolex will offer $18 per share to take Pactiv private in an all-cash transaction, including debt, the companies said on Monday."
- [privateequityinternational.com](https://www.privateequityinternational.com/apollo-backed-novolex-and-pactiv-evergreen-to-merge-forming-food-beverage-and-specialty-packaging-firm/), 2024-12-10: "Novolex will acquire Pactiv Evergreen for $18 per share in an all-cash deal valued at $6.7 billion, inclusive of Pactiv Evergreen's net debt."
- [davispolk.com](https://www.davispolk.com/experience/pactiv-evergreen-6-7-billion-acquisition-novolex), 2024-12-11: "Davis Polk is advising Packaging Finance Limited as the majority shareholder of Pactiv Evergreen Inc. in connection with Pactiv's $6.7 billion acquisition by Novolex."
- [packagingworldinsights.com](https://www.packagingworldinsights.com/press-releases/novolex-and-pactiv-evergreen-inc-to-combine-establishing-a-leading-manufacturer-in-food-and-beverage-packaging/), 2025-01-09: "Novolex ® and Pactiv Evergreen Inc. (NASDAQ: PTVE), announced today they have entered into a definitive agreement to combine"
- [tradingcalendar.com](https://www.tradingcalendar.com/post/pactiv-evergreen-to-go-private-in-18-per-share-novolex-merger-ptve), 2025-03-30: "Pactiv Evergreen Inc. (NASDAQ: PTVE) ... is set to be acquired by Novolex Holdings, LLC for $18 per share in an all-cash deal."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.