Clearwater to enter site-sharing deal in Idaho with Sofidel upon tissue divestiture

The tissue business sale is expected to be complete in the fourth quarter as Clearwater transitions to become a more paperboard-focused business with new product offerings.

By Katie Pyzyk • Aug. 7, 2024

Layoffs and closures at Placon, Supremex, WestRock announced in July

Announcements appeared to slow down from May and June, but New York, North Carolina and New Mexico are among the states where cuts are taking place.

By Maria Rachal • Aug. 6, 2024

Berry eyes $2B from ‘strategic divestitures’ within next year

The company continues to hone its focus on consumer products as the deal to spin off its health, hygiene and specialties segment remains on track.

By Maria Rachal • Aug. 5, 2024

Pactiv Evergreen plans more cuts after Q2 ‘fell short of our expectations’

CEO Mike King detailed upcoming cost-cutting measures — including layoffs — following weaker-than-expected quarterly performance, due in large part to consumer spending dips and unanticipated plant downtime.

By Katie Pyzyk • Aug. 2, 2024

Sonoco plans more divestitures under portfolio simplification strategy

While second-quarter volume levels increased over last year’s depressed state, “it's certainly not a robust recovery,” said CFO Rob Dillard.

By Katie Pyzyk • Aug. 1, 2024

How much did packaging CEOs make in 2023?

The packaging industry’s largest manufacturers have a wave of new CEOs beginning this year. Here’s a look at how compensation has trended for packaging leaders — and their employees — in recent years.

By Maria Rachal , Cole Rosengren , Katie Pyzyk • Aug. 1, 2024

Smurfit Westrock executives detail which legacy business segments are under evaluation

The integration will take time. Executives from the legacy business of Ireland-based Smurfit Kappa “can't just come over and sprinkle some dust ... and everybody is going to change their way,” said Smurfit Westrock CFO Ken Bowles.

By Katie Pyzyk • July 31, 2024

O-I’s new CEO is promising change. Analysts are skeptical.

Gordon Hardie previewed upcoming furnace closures and plans to decentralize the glass packaging company’s business model. O-I is also doubling its rate of capacity curtailment in 2024 to 15%.

By Maria Rachal • July 31, 2024

Graphic Packaging expects impact from McDonald’s extending value meal offers

The company foresees a “quite unusual” level of growth in the second half of the year. GPI also detailed expected impacts from two upcoming facility closures during a second-quarter earnings call on Tuesday.

By Katie Pyzyk • July 30, 2024

Packaging companies delve into Q2 results

Catch up on insights from executives at SEE, Berry Global, Pactiv Evergreen, Sonoco and more.

By Packaging Dive Staff • Updated Aug. 13, 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 completes acquisition of Weener Plastics

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

By Maria Rachal • Updated Oct. 15, 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 divests 2 facilities to Suzano for $110M

The sale of sites in Arkansas and North Carolina is the culmination of a strategic review by Pactiv as the company also restructures its beverage and food merchandising businesses and explores footprint optimization.

By Maria Rachal • Updated Oct. 1, 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