Novolex acquires Pactiv Evergreen for $6.7bn
The merged company will operate as Novolex, with its headquarters based in Charlotte, North Carolina.
| Ticker |
PTVE
|
| CIK | 0001527508 |
| SIC | 2673 |
| Sector | Manufacturing |
| Industry Category | Business Supplies |
| Industry Group | Paper And Allied Products |
| Address | 1900 W. FIELD COURT, LAKE FOREST, IL, 60045 |
| Website | pactivevergreen.com |
| Phone | (847) 482-7642 |
| CEO | Michael J. King |
| Employees | 16,200 |
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Novolex acquires Pactiv Evergreen for $6.7bnThe merged company will operate as Novolex, with its headquarters based in Charlotte, North Carolina. Novolex completes $6.7B acquisition of Pactiv EvergreenPactiv Evergreen has transitioned from a publicly traded to privately held company as it is absorbed under Novolex. The combined company becomes one of largest food packaging producers. Pactiv Evergreen Inc. Announces Receipt of All Required Regulatory Approvals for Planned Acquisition by NovolexLAKE FOREST, Ill., March 28, 2025 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (“Pactiv Evergreen” or the “Company”) (NASDAQ: PTVE) today announced that all required regulatory approvals have been received in connection with the Company’s previously announced definitive agreement to be acquired by Novolex® for $18.00 per share in cash. As a result, the transaction is now expected to close on April 1, 2025, subject to satisfaction of other customary closing conditions. Upon the completion of the tra Pactiv Evergreen settles for $6.25M over 2023 North Carolina mill closureThe restitution amount is more than half of what Pactiv Evergreen received from the state in grants for the site. The company is “pleased to have resolved” matters related to the Canton mill, which it sold last month. Pactiv Evergreen to close Michigan plant in USThe company's other plant in the state will be unaffected by the decision. |