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Pactiv Evergreen announced it will acquire privately held Novolex Holdings for approximately $7.3 billion, paid with $4.85 billion in cash and about $2.45 billion in Pactiv stock. The Reynolds Group-backed deal would create a North American foodservice packaging leader with over $11 billion in combined revenue.
Cerberus Capital Management affiliates completed the purchase of the North American, Costa Rican and Japanese businesses and facilities of closure maker Closure Systems International from Reynolds Group Holdings, which keeps its European, Middle Eastern, Egyptian and South American closures units.
Cerberus Capital Management affiliate has agreed to buy the North American, Costa Rican and Japanese businesses of Closure Systems International from Reynolds Group. The deal is expected to close within two quarters and the value was not disclosed.
Italian packaging producer Sirap-Gema agreed to buy rigid plastic food packaging maker Kama Europe, trading as Pactiv, from Reynolds Group Holdings, with completion expected mid-January 2018. Kama Europe has a plant in Sedgefield employing 110.
Pact Group has bought two Reynolds companies in Asia, according to Plastics News. The article gives no further details on location, price or date beyond December 5, 2017.
Reynolds Group agreed to sell its SIG Combibloc carton packaging business to Onex Corporation for up to €3.75 billion, with €3.575 billion payable at closing and up to €175 million based on 2015 and 2016 performance. The deal was expected to close in the first quarter of 2015.
RM2 International S.A. received an exclusive commitment from Pactiv LLC, a Reynolds Group subsidiary, to purchase and deploy its BLOCKPal composite pallets for all non-wood pallet uses, with hundreds of thousands of pallets to be deployed in stages.
