Packaging companies delve into Q2 results

Earnings reports are ramping up. Catch up on insights this week from Packaging Corporation of America, International Paper and Crown Holdings.

By Packaging Dive Staff • July 26, 2024

PCA to build new box plant in Phoenix area

Packaging Corporation of America’s expansion comes as the company nearly set a Q2 record for corrugated shipments per day.

By Katie Pyzyk • July 25, 2024

New International Paper CEO details recovery plan after ‘totally unacceptable’ results

CEO Andrew Silvernail came into the ring punching during his first earnings call since taking the role in May. The team is “tired of getting their butt kicked” due to historic underinvestment in capital expenditures and maintenance, he said.

By Katie Pyzyk • July 24, 2024

Silgan plans to spend over $900M on latest dispensing acquisition

Weener Plastics is Silgan’s latest major purchase in recent years to grow its dispensing and specialty closures division.

By Maria Rachal • July 24, 2024

Crown expects $300M in proceeds from Eviosys deal

Crown Holdings CEO Tim Donahue detailed how the canmaker intends to spend it.

By Maria Rachal • July 23, 2024

Clearwater to focus on paperboard after $1B tissue business sale

The latest transaction for the Washington-based company will remove four U.S. tissue production facilities from its footprint, after recently gaining a bleached paperboard manufacturing plant in Georgia.

By Katie Pyzyk • July 22, 2024

Russian government takes over management control at 2 Silgan facilities

Although operations ceased last year at the two metal packaging facilities, Silgan did not divest the assets. The Russian government says it will now make management decisions on a “temporary” basis.

By Katie Pyzyk • July 16, 2024

Pactiv Evergreen to divest facilities in North Carolina, Arkansas in $110M cash deal

The pending sale to Suzano is the culmination of a lengthy strategic review by Pactiv Evergreen as the company also restructures its beverage and food merchandising businesses and explores footprint optimization.

By Maria Rachal • July 15, 2024

2024 packaging M&A trends: Megadeals are in, destocking hangover is out

Despite several high-profile megadeals between large packaging companies in recent months, small companies make up more volume than meets the eye, according to analysts. And international transactions are gaining prominence. 

By Katie Pyzyk • July 10, 2024

Smurfit Kappa completes acquisition of WestRock

“Smurfit WestRock is going to conquer the world of sustainable, paper-based packaging,” said CEO Tony Smurfit before ringing the NYSE’s opening bell.

By Katie Pyzyk • Updated July 8, 2024

2024’s biggest packaging acquisition news

The year has seen a flurry of news and rumors about major transactions involving International Paper, DS Smith, Berry Global, Sonoco, WestRock, Smurfit Kappa and more.

By Packaging Dive Staff • July 5, 2024

Departing WestRock CEO Sewell reflects on his tenure and company’s future

In an interview, David Sewell discussed fiber pricing trends, infrastructure investment strategies, the importance of innovation and highlights from his time at the helm of WestRock, which comes to an end July 5.

By Katie Pyzyk • July 2, 2024

Suzano ends negotiation for acquisition of International Paper

Suzano’s previous interest added another layer of complexity to a planned deal between International Paper and DS Smith, which followed Mondi’s attempt to purchase DS Smith.

By Maria Rachal • June 27, 2024

Ardagh Glass closing Houston facility with 220 workers, citing ‘beer market conditions’

Also in July the company will be indefinitely curtailing production at a Seattle site servicing wine customers, impacting another 244 employees. Ardagh detailed ongoing challenges in both the beer and wine markets.

By Katie Pyzyk , Maria Rachal • June 25, 2024

Sonoco acquiring Eviosys for $3.9B in move to prioritize metal packaging

Acquiring the European company from investment firm KPS aligns with Sonoco’s strategy to make metal packaging a core business unit. The acquisition will be accompanied by “significant divestitures.”

By Katie Pyzyk • Updated June 24, 2024

DS Smith acquisition ‘remains fully on track’ for Q4 closing, CEO says

The prospectus for International Paper’s acquisition should be released in late summer, said DS Smith CEO Miles Roberts on Thursday’s earnings call. Meanwhile, substrate switches from plastic to fiber are driving up demand.

By Katie Pyzyk • June 20, 2024

SEE appoints WestRock executive as CEO

Patrick Kivits, who has been with WestRock for five years, was slated to keep his position upon that company’s combination with Smurfit Kappa in July. Instead, he’ll start the month leading SEE.

By Katie Pyzyk • June 14, 2024

WestRock, Smurfit Kappa shareholders vote to approve combination

Recently released documents reveal when executives expect the deal to close and just how long the transaction has been in the works.

By Katie Pyzyk • June 13, 2024

North America’s 2 largest URB producers to raise prices

Greif and Sonoco’s recent announcements about increases for uncoated recycled board are the latest in a string of fiber price hikes this year. They may not be the last.

By Katie Pyzyk • June 12, 2024

Alison Keane to leave Flexible Packaging Association this summer

After more than seven years of pushing for industry improvements such as better plastic film recycling infrastructure, the president and CEO will join a recycling organization.

By Katie Pyzyk • June 10, 2024

Greif opens Dallas bulk corrugated facility, hikes URB prices again

The Ohio-based manufacturer said during a call Thursday detailing paper business trends that demand for its recycled paper products is on the rise. But it reported delayed price recognition as a persistent challenge.

By Maria Rachal • June 6, 2024

Novelis backtracks on IPO launch

The supplier to customers like Ball, Ardagh and Coca-Cola said it’s holding off on previously announced plans “due to market conditions” a week after pricing an offering that could have generated as much as $945 million.

By Maria Rachal • June 5, 2024

Suzano and International Paper address deal rumors, details still unclear

Executives acknowledged a potential transaction for the first time this week, but made clear that no formal offer is in place. Analysts speculate that Suzano may specifically be interested in IP’s Global Cellulose Fibers business.

By Cole Rosengren • May 23, 2024

Cascades names Hugues Simon as new CEO

The Resolute Forest Products executive will replace retiring CEO Mario Plourde no later than July 1. This is the latest in a string of packaging company CEO transitions over the past year.

By Katie Pyzyk • May 17, 2024

Ball, Ardagh, Coca-Cola aluminum supplier Novelis pursues IPO

The Atlanta-based aluminum company’s recent filings shed light on the state of the U.S. market for food and beverage cans. It’s looking to boost its recycled content use from 63% to 75% in the coming years.

By Maria Rachal • May 16, 2024