Pactiv Evergreen Completes $6.7 Billion Merge with Novolex

Deal News | Apr 01, 2025 | Paul Hastings

Pactiv Evergreen Completes $6.7 Billion Merge with Novolex

Pactiv Evergreen Inc., a prominent manufacturer of foodservice and merchandizing products, has joined forces with Novolex in a significant all-cash transaction valued at $6.7 billion. This acquisition, completed on April 1, 2025, resulted in Pactiv Evergreen becoming a privately held entity. Novolex, known for its diverse packaging solutions, acquired each Pactiv Evergreen share at the price of $18.00, including the net debt of Pactiv Evergreen. Paul Hastings LLP played a crucial advisory role in this transaction with an experienced team led by M&A partners Eduardo Gallardo, Jon Kubek, and Tim Fesenmyer. The deal signifies a major shift in the packaging sector, enhancing Novolex's position in multiple markets.

Sectors

  • Packaging Industry
  • Mergers & Acquisitions

Geography

  • North America – Pactiv Evergreen is a leading manufacturer in North America, indicating that the operation and impact of the merger are primarily focused in this region.

Industry

  • Packaging Industry – The article is centered on companies involved in the manufacturing and distribution of packaging products, which is a primary focus of both Pactiv Evergreen and Novolex.
  • Mergers & Acquisitions – The article discusses a significant M&A transaction between Pactiv Evergreen and Novolex, highlighting the strategic and financial aspects of the acquisition.

Financials

  • $6.7 billion – The total value of the all-cash transaction for Pactiv Evergreen including its net debt.
  • $18.00 per share – The per-share price at which Novolex acquired Pactiv Evergreen.

Participants

NameRoleTypeDescription
Pactiv Evergreen Inc.Target CompanyCompanyA leading manufacturer and distributor of foodservice, food merchandizing products, and fresh beverage cartons in North America.
NovolexBidding CompanyCompanyA company that develops and manufactures packaging products for foodservice, delivery and carryout, food processor, and industrial markets.
Paul Hastings LLPLegal AdvisorCompanyProvided legal advisory to Pactiv Evergreen in the transaction with Novolex.