# Novolex to acquire Pactiv Evergreen in $6.7B packaging deal

Novolex agreed to acquire Pactiv Evergreen for $18 per share in cash, a deal valued at about $6.7 billion, creating a larger North American packaging company. Apollo Funds and CPP Investment Board will contribute about $1 billion, and closing is expected in mid-2025.

- Type: Acquisition
- Announced: 2025-02-19
- Where: Charlotte, North Carolina, United States
- Value: $6.70B
- Status: announced
- Products: fiber packaging, plastic packaging, food and beverage packaging
- Sectors: [Packaging](https://endata.com/sectors/packaging.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Novolex](https://endata.com/companies/331.md) (acquirer)
- [Canada Pension Plan Investment Board](https://endata.com/companies/4245.md) (investor)
- [Pactiv Evergreen](https://endata.com/companies/5024.md) (target)
- [Apollo Funds](https://endata.com/companies/12793.md) (investor)

## Sources

- [petrochemsupplychain.com](https://www.petrochemsupplychain.com/news/6-7-billion-deal-novolex-acquires-pactiv-evergreen-to-create-a-new-packaging-industry-giant/), 2025-02-19: "The acquisition provides Pactiv Evergreen shareholders with $18 per share in cash."
- [packagingdive.com](https://www.packagingdive.com/news/novolex-closes-acquisition-pactiv-evergreen/744049/), 2025-04-01: "Novolex announced today that is has completed its combination with Pactiv Evergreen Inc., creating a leader in food, beverage and specialty packaging products."
- [prnewswire.com](https://www.prnewswire.com/news-releases/novolex-and-pactiv-evergreen-inc-complete-combination-creating-a-leading-manufacturer-in-food-beverage-and-specialty-packaging-302417036.html), 2025-04-01: "The transaction is valued at approximately $6.7 billion, inclusive of Pactiv Evergreen's net debt as of September 30, 2024."
- [packagingstrategies.com](https://www.packagingstrategies.com/articles/keyword/9236-acquisitions?page=2), 2025-10-17: "Headquartered in Charlotte, N.C., the combined company will continue to operate under the Novolex name."

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