Pactiv

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Pactiv LLC
TypePrivate (1999 to 2020)
Public (since 2020)
Nasdaq: PTVE
IndustryPackaging Solutions[buzzword]
FoundedNovember 1999
HeadquartersLake Forest, Illinois, United States
Key people
John McGrath (CEO)
ProductsCustom and stock foam, plastic, aluminum, pressed-paperboard, PE coated board, and molded-fiber packaging
RevenueIncrease $7.2 billion
Number of employees
11,000+
ParentReynolds Group Holdings Limited
Websitewww.pactiv.com
Footnotes / references
Pactiv became privately held when acquired by Reynolds Group Holdings Limited in November 2010. RGHL is a global manufacturer and supplier of consumer food and beverage packaging and storage products.

Pactiv is a manufacturer and distributor of food packaging and foodservice products, supplying packers, processors, supermarkets, restaurants, institutions and foodservice outlets across North America.

History[]

Pactiv’s roots stretch back to 1959, when Central Fibre, American Boxboard, and Ohio Boxboard merged to form Packaging Corporation of America (PCA). Those companies bear little resemblance to the company today, as they operated paper mills that exclusively produced cardboard boxes.

Tenneco Inc. purchased PCA in 1965, and during the next 34 years the company undertook a number of acquisitions, including the acquisition of Mobil Plastics Company in 1995 and Amoco Foam Products Company in 1996, which formed the basis of the current Pactiv business. As a result, its product portfolio expanded to include aluminum, clear plastic, foam products, molded fiber and pressware.

The company name has changed numerous times, from PCA to Tenneco Packaging Inc. (1995) to Pactiv Corporation (1999), when it was spun off by Tenneco, becoming an independent company. Since 1999, the company has pursued a number of strategic mergers and acquisitions, each with an eye toward strengthening its position in the foodservice packaging industry, including adding Jaguar (2002), Newspring (2005), Prairie Packaging (2007), and PWP Industries (2010).

In 2010, Pactiv was acquired by Rank Group Ltd, and became part of Reynolds Group Holdings Limited (RGHL), a global manufacturer and supplier of consumer food and beverage packaging and storage products.[1][2] Since the Rank acquisition, the company continued to grow, incorporating the legacy Reynolds Foodservice business to Pactiv, acquiring Dopaco in 2011,[3] adding International Tray Pads and Packaging[4] and Interplast Packaging in 2012,[5] and Spirit, a manufacturer of foodservice products including cups, cutlery, straws and stirrers, in 2013.[6]

On September 8, 2021 it was announced the company will acquire, through its wholly-owned subsidiary Pactiv Evergreen Group Holdings, Fabri-Kal a manufacturer of foodservice and consumer brand packaging solutions[buzzword], for $380 million.[7]

References[]

  1. ^ Chon, Gina (2010-08-17). "New Zealand's Rank Group to Pay $4.4 Billion for Hefty-Bag Maker". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-01.
  2. ^ reporter, Ameet Sachdev, Tribune. "New Zealand company to buy Pactiv in $6 billion deal". chicagotribune.com. Retrieved 2021-07-01.
  3. ^ "Reynolds Group Holdings Limited to acquire Dopaco from Cascades". www.businesswire.com. 2011-03-11. Retrieved 2021-07-01.
  4. ^ "Pactiv Acquires International Tray Pads & Packaging, Inc". www.businesswire.com. 2012-09-17. Retrieved 2021-07-01.
  5. ^ "Pactiv Canada Acquires Interplast Packaging, Inc". www.businesswire.com. 2012-09-25. Retrieved 2021-07-01.
  6. ^ "Pactiv Acquires Spirit Foodservice Products | Mergr". mergr.com. Retrieved 2021-07-01.
  7. ^ "Pactiv Evergreen (PTVE) Acquires Leading Foodservice and Packaging Manufacturer; Shares Decline". Investorsobserver.com. 2021-09-08. Retrieved 2021-09-09.
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