Finance
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Permission granted by Amcor
Packaging M&A appears to be ramping up again with range of deals
Following megadeals like Amcor’s move to acquire Berry Global and Novolex’s play for Pactiv Evergreen, as well as other activity, sources see packaging M&A ticking up again after a lower-volume period for deals.
By Maria Rachal • Dec. 11, 2024 -
Courtesy of O-I Glass
Deep DiveThe packaging workforce grew for a decade. Labor shortages and COVID-19 changed that.
The top 12 publicly traded U.S. packaging manufacturers by revenue collectively have more employees than they did a decade ago. Mergers and acquisitions heavily influenced the numbers, but that’s not the only factor.
By Katie Pyzyk • Dec. 11, 2024 -
Katie Pyzyk/Packaging Dive
Q&AFlexible Packaging Association’s new CEO talks flexibles growth, recyclability, tariffs
Dan Felton detailed misunderstandings about flexibles that he hopes to dispel. He also discussed risks and opportunities that FPA members face as extended producer responsibility for packaging laws emerge.
By Katie Pyzyk • Dec. 10, 2024 -
Permission granted by Novolex
Novolex to acquire Pactiv Evergreen in $6.7B deal
The North American companies expect to finalize the all-cash deal in 2025, which would take Pactiv Evergreen private.
By Katie Pyzyk • Dec. 9, 2024 -
Permission granted by Greif
Greif leans into polymers following business segment shuffle
After creating four material-based business segments, Greif’s executives signaled the polymers space holds the greatest growth potential. Executives also announced a $100 million cost-cutting plan.
By Katie Pyzyk • Dec. 6, 2024 -
Courtesy of Dow
Dow names new packaging segment president
Keith Cleason immediately takes over the packaging and specialty plastics unit, following Karen Carter’s promotion to chief operating officer.
By Katie Pyzyk • Dec. 4, 2024 -
Courtesy of Eviosys
Sonoco completes $3.8B acquisition of Eviosys
The Switzerland-based metal packaging business will transition to Sonoco’s branding in the coming months, bringing its 6,300 employees and 44 facilities.
By Katie Pyzyk • Dec. 4, 2024 -
DeSid via Getty Images
Glass, EPS manufacturing hit in November layoff announcements
Orora Packaging Solutions, Ardagh Glass, Anchor Glass and International Paper were some of the companies that made downsizing and closure announcements across Washington, Florida, California, Pennsylvania and Tennessee.
By Maria Rachal • Updated Dec. 3, 2024 -
Permission granted by Berry Global
Berry selling specialty tapes business to private equity for $540M
This adds to a string of divestitures this year under CEO Kevin Kwilinski. It comes a week after Amcor announced plans to acquire Berry.
By Maria Rachal • Nov. 26, 2024 -
Romeo Gacad via Getty Images
Constantia Flexibles taps former Ardagh leader to be next CEO
David Spratt will assume his position at the Vienna-based company with nearly 10,000 employees in the new year.
By Katie Pyzyk • Nov. 22, 2024 -
Lisa Beeby via Getty Images
PCA’s new fiber price hike spurs questions for 2025
Amid a general oversupply of fiber, analysts are waiting to see if markets will recognize Packaging Corporation of America’s planned price increase and if competitors will follow suit.
By Katie Pyzyk • Nov. 21, 2024 -
Courtesy of Amcor
Amcor acquiring Berry in $8.4B deal to create global plastics and healthcare packaging giant
The companies anticipate having “greater reach than any other packaging company in the world” and are targeting a mid-2025 close. Also Tuesday, Berry disclosed its Q4 and fiscal 2024 results.
By Maria Rachal • Updated Nov. 19, 2024 -
luchunyu via Getty Images
The dual case for reusable transport packaging
Adopting reusables across the supply chain presents not just sustainability benefits, but also cost savings, according to speakers at Pack Expo International.
By Katie Pyzyk • Nov. 14, 2024 -
Rafa Jodar via Getty Images
Ardagh permanently closing Seattle wine bottle facility, citing unfavorable ITC decision
The closure of the previously halted glass facility impacts 245 workers. Curtailments can positively affect GHG emissions metrics, the company noted in a new sustainability road map on Thursday.
By Maria Rachal • Nov. 14, 2024 -
Katie Pyzyk/Packaging Dive
Mill divestiture ‘marks an important milestone’ for Pactiv Evergreen
The Pine Bluff, Arkansas, mill encountered operational challenges during its final month as a Pactiv asset. But its sale, and that of a North Carolina mill, “marks an important milestone,” according to CEO Mike King.
By Katie Pyzyk • Nov. 12, 2024 -
Maria Rachal/Packaging Dive/Packaging Dive
Sealed Air CEO Kivits reorganizes verticals, embraces fiber
Through talking to customers and investors, “it became clear that reorganizing into two verticals, food and protective, was a critical foundational step,” said new CEO Patrick Kivits, a WestRock alum, on Sealed Air’s Q3 earnings call.
By Maria Rachal • Nov. 8, 2024 -
Clearwater Paper details transition to paperboard focus amid sales jump
Despite a $5 million negative impact from Hurricane Helene in Q3, the company’s recent mill acquisition — and the sale of its tissue business — are expected to provide longer term support for the paperboard-focused company.
By Katie Pyzyk • Nov. 6, 2024 -
DeSid via Getty Images
Layoffs tick up in October, led by International Paper and O-I Glass
Companies such as Dart Container, PPC Flexible Packaging, Sonoco and Metsä Board also disclosed upcoming layoffs in multiple areas.
By Katie Pyzyk • Nov. 5, 2024 -
Courtesy of Berry Global
Berry completes spin-off of health division to form new company Magnera
Berry spun off its health and hygiene business to merge with Glatfelter, allowing it to focus on consumer packaging. The newly formed Magnera is now “the largest nonwovens company in the world.”
By Maria Rachal , Cole Rosengren • Updated Nov. 5, 2024 -
Courtesy of Sonoco
Sonoco discloses pending $419M divestiture in China amid period of major change
CEO Howard Coker said the pending purchase of Eviosys and two more possible divestitures would create a company primarily focused on metal and fiber products. It also disclosed notable hurricane effects in Florida.
By Cole Rosengren • Nov. 4, 2024 -
DeSid via Getty Images
Packaging manufacturers share insights from Q3
Recent earnings calls revealed some notable changes at packaging manufacturers. Follow the latest from Pactiv Evergreen, Clearwater Paper, Sonoco, Amcor, International Paper, Smurfit Westrock and more.
By Packaging Dive Staff • Updated Nov. 12, 2024 -
Permission granted by Amcor
Amcor to exit longstanding closures joint venture in $122M deal
Amcor noted the deal during its first fiscal 2025 earnings call, in which new CEO Peter Konieczny also discussed the destocking trend in healthcare, plus a focus on higher-margin businesses like meat, pet care and premium coffee.
By Maria Rachal • Nov. 1, 2024 -
Courtesy of International Paper/Cision
DS Smith deal close pushed to 2025 as IP touts early results from its own turnaround plan
CEO Andy Silvernail provided numerous updates on a company rethink that has involved site closures, a large corporate restructuring and operational changes. He also previewed the potential for new box plant investments.
By Cole Rosengren • Oct. 31, 2024 -
muchemistry via Getty Images
International Paper cuts 674 jobs amid strategic review of global cellulose fibers
The news of a South Carolina pulp mill closure brings IP’s announced layoffs this month to more than 1,500. A potential sale of the broader GCF business is now under consideration.
By Maria Rachal • Oct. 31, 2024 -
Courtesy of Smurfit WestRock
Smurfit Westrock cuts 800 positions, eyes footprint optimization and investments
CEO Tony Smurfit touted “excellent” results for the combined company’s first earnings report but noted a desire to further optimize assets and reduce costs. He also addressed questions about the solid bleached sulfate business.
By Katie Pyzyk • Oct. 30, 2024
