M&A Deal Summary

Novolex Acquires Pactiv Evergreen

On December 9, 2024, Novolex acquired consumer products company Pactiv Evergreen for 6.7B USD

Acquisition Highlights
  • This is Novolex’s 2nd transaction in the Consumer Products sector.
  • This is Novolex’s largest (disclosed) transaction.
  • This is Novolex’s 11th transaction in the United States.
  • This is Novolex’s 2nd transaction in Illinois.

M&A Deal Summary
Date 2024-12-09
Target Pactiv Evergreen
Sector Consumer Products
Buyer(s) Novolex
Deal Type Add-on Acquisition
Deal Value 6.7B USD
Advisor(s) Goldman Sachs
Lazard Ltd. (Financial)
Paul Hastings (Legal)

Target

Pactiv Evergreen

Lake Forest, Illinois, United States
Pactiv Evergreen manufactures and distributes food service, food merchandising products, and fresh beverage cartons in North America. The company produces a broad range of on-trend and feature-rich products that protect packages, and display food and beverages for today’s consumers, who want to eat or drink fresh, prepared, or ready-to-eat food and drinks conveniently and confidently. Pactiv's 13,000 products range from food containers, plates and bowls, hot and cold cups, lids, wraps, and cutlery to meat and poultry trays, egg cartons, and reclosable beverage cartons. It supplies products to a broad and diversified mix of companies, including full and quick-service restaurants, food service distributors, supermarkets, retailers, food and beverage producers, food packers, and processors. Pactiv Evergreen was formed in 1880 and is based in Lake Forest, Illinois.

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Buyer(S) 1

Buyer

Novolex

Hartsville, South Carolina, United States
Category Company
Founded 2003
Sector Packaging
DESCRIPTION

Novolex is a manufacturer of paper and plastic flexible packaging products. Novolex serves customers across foodservice, grocery, retail, and industrial end markets with a diverse product portfolio including retail and specialty bags, food packaging products, and a broad range of specialty films and laminated products. Novolex was founded in 2003 and is headquartered in Hartsville, South Carolina.

DEAL STATS #
Overall 13 of 13
Sector (Consumer Products) 2 of 2
Type (Add-on Acquisition) 12 of 12
State (Illinois) 2 of 2
Country (United States) 11 of 11
Year (2024) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-04 American Twisting

South Haven, Michigan, United States

American Twisting is a company specializing in the manufacturing and distribution of twisted yarns and fibers. American Twisting provides products for various industries, including textiles, automotive, and industrial applications. American Twisting offerings include custom twisting solutions and specialty yarns. American Twisting is based in South Haven, Michigan.

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