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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.
Suzano completed its $110 million cash purchase of a paper mill in Pine Bluff, Arkansas and an extrusion facility in Waynesville, North Carolina from Pactiv Evergreen on October 1, 2024. A long-term supply agreement has Suzano supplying liquid packaging board and cupstock to Pactiv.
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.
Pactiv Evergreen reported in its Q4 2021 results a recent agreement to sell its carton packaging and filling machinery businesses in China, Korea and Taiwan. The article gives no buyer, value or exact signing date.
Pactiv Evergreen agreed to acquire Fabri-Kal, a Kalamazoo, Michigan maker of foodservice and consumer packaging, in a transaction valued at about $380 million, expected to close in late Q3 or early Q4 2021.
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.
