Pactiv Evergreen Closes $6.7 Billion Deal with Novolex

Pactiv Evergreen Inc., a prominent manufacturer and distributor in North America's fresh foodservice, food merchandising, and beverage carton industries, has successfully completed a merger with Novolex. The deal, valued at $6.7 billion, was executed as an all-cash transaction for $18.00 per share, encompassing Pactiv Evergreen's net debt. The merger, which was closed on April 1, 2025, now places Pactiv Evergreen under the private ownership of Novolex. Novolex is a key player in the development and manufacturing of diverse packaging products for sectors including foodservice, delivery, food processing, and industrial markets. This strategic partnership expands Novolex’s reach and capabilities in these industries. Legal advisory for Pactiv Evergreen was provided by Paul Hastings LLP, with a team led by M&A partners Eduardo Gallardo, Jon Kubek, and Tim Fesenmyer along with numerous partners, counsel, and associates.