• Home
  • Journal
  • Public Companies
  • Evergreen Packaging International LLC, a Wholly-Owned Subsidiary of Pactiv Evergreen Inc., Reaches Agreement to Divest Ownership Interest in Beverage Packaging Co Ltd Joint Venture
Evergreen Packaging International LLC, a Wholly-Owned Subsidiary of Pactiv Evergreen Inc., Reaches Agreement to Divest Ownership Interest in Beverage Packaging Co Ltd Joint Venture

Evergreen Packaging International LLC, a Wholly-Owned Subsidiary of Pactiv Evergreen Inc., Reaches Agreement to Divest Ownership Interest in Beverage Packaging Co Ltd Joint Venture

Written by Customer Service on . Posted in Public Companies.

LAKE FOREST, Ill., Oct. 12, 2021 (GLOBE NEWSWIRE) — Evergreen Packaging International LLC (Evergreen Packaging), a wholly-owned subsidiary of Pactiv Evergreen Inc. (Pactiv Evergreen; NASDAQ: PTVE) today announced that it has entered into a definitive agreement for the sale of its 50 percent interest in Naturepak Beverage Packaging Co Ltd (Naturepak Beverage) to Elopak ASA, a leading global supplier of carton packaging and filling equipment.

Naturepak Beverage, a joint venture formed by Evergreen Packaging and Gulf Industrial Group Company Plc, supplies customers in the Middle East and Africa region from manufacturing plants in Morocco and Saudi Arabia.

“Pactiv Evergreen is pleased to announce this agreement with our valued partners at Elopak ASA,” said Michael King, Pactiv Evergreen CEO. “The completion of this transaction will position Pactiv Evergreen to focus on our growth in North America where we are established as a leading manufacturer of fresh food and beverage packaging, servicing many of the world’s most beloved brands.”

Approvals
The transaction is subject to regulatory approvals and satisfaction of other customary closing conditions.

Advisors
White & Case acted as legal advisors and deNovo Corporate Advisors served as the exclusive financial advisor for Pactiv Evergreen Inc.

Contacts:

Investors:
Dhaval Patel
732.501.9657
dhaval.patel@pactivevergreen.com

Media:
Beth Kelly
412.303.4771
beth.kelly@pactivevergreen.com

About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ: PTVE) is one of the largest manufacturers of fresh food and beverage packaging in North America. With a team of nearly 15,000 employees, the Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today’s consumers. Its products, many of which are made with recycled, recyclable or renewable materials, are sold to a diversified mix of customers, including restaurants, foodservice distributors, retailers, food and beverage producers, packers and processors. Learn more at www.pactivevergreen.com.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.