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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.
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.
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.
Novolex agreed to acquire Pactiv Evergreen for $18.00 per share in an all-cash deal valued at $6.7 billion, combining the two into a leading food and beverage packaging manufacturer.
Novolex is investing $10 million to expand plastic bag and polyethylene film recycling capacity at its North Vernon, Indiana facility, producing up to 28 million pounds of recycled content per year.
Apollo Global Management agreed to buy a majority stake in packaging maker Novolex Holdings from Carlyle Group, which will keep a minority stake. Bloomberg's headline cites a $6 billion value, although the article text says financial terms were not disclosed.
Waddington Europe, a Novolex division, agreed with Irish recycler Shabra to purchase food-grade recycled PET for making new packaging at its Arklow production site, announced August 31, 2021.
US packaging firm Novolex has acquired Vegware, an Edinburgh-based maker of compostable foodservice packaging, for an undisclosed sum. Vegware will keep its brand within Novolex's Eco-Products portfolio.
JobsOhio provided Burrows, a Novolex brand, a $400,000 grant to invest in new machinery, equipment and infrastructure at its food-packaging plants in Franklin and Mount Vernon, Ohio, where more than 300 employees work.
Novolex has acquired the business of B&H Bag Company, a paper bag manufacturer with one plant in Brookshire, Texas, to add production capacity to its Duro Bag operations. The announcement was made on 15 December 2020.
Novolex, a Carlyle portfolio company, acquired Zenith Specialty Bag, a specialty paper food packaging producer headquartered in City of Industry, California, effective October 1, 2019.
Novolex and Pactiv Evergreen have signed a definitive agreement to combine into a leading food, beverage and specialty packaging manufacturer. Pactiv Evergreen shareholders will receive $18.00 per share in cash.
Newell Brands signed a definitive agreement to sell its Waddington Group packaging business, based in Covington, Kentucky, to Novolex Holdings, backed by The Carlyle Group, for gross proceeds of about $2.3 billion. The deal is expected to close within about 60 days.
Novolex, a portfolio company of The Carlyle Group, agreed to acquire certain assets and business operations of Shields Bag and Printing Co., a flexible packaging maker in Yakima, Washington. Terms were not disclosed and closing is expected near year end 2017.
Detmold Group agreed to buy Heshan Innopak Co. Ltd. from Novolex, a packaging manufacturer in Heshan, Guangdong, China. The transaction is expected to be completed by the end of August 2017.
The Carlyle Group agreed to buy Hartsville, South Carolina-based packaging company Novolex from Wind Point Partners and TPG Growth. No financial terms were disclosed and closing is expected before year end.
Burrows Paper Corp. agreed to sell its packaging division to Novolex of Charlotte, North Carolina, in a deal expected to close later in 2016. Terms were not disclosed.
