History
Pactiv’s roots stretch back to 1959, when Central Fibre, American Boxboard, and Ohio Boxboard merged to form Packaging Corporation of America (PCA). Those companies bear little resemblance to the company today, as they operated paper mills that exclusively produced cardboard boxes. Tenneco Inc. purchased PCA in 1965, and during the next 34 years the company undertook a number of acquisitions, including the acquisition of Mobil Plastics Company in 1995 and Amoco Foam Products Company in 1996, which formed the basis of the current Pactiv business. As a result, its product portfolio expanded to include aluminum, clear plastic, foam products, molded fiber and pressware. The company name has changed numerous times, from PCA to Tenneco Packaging Inc. (1995) to Pactiv Corporation (1999), when it was spun off by Tenneco, becoming an independent company. Since 1999, the company has pursued a number of strategic mergers and acquisitions, each with an eye toward strengthening its position in the foodservice packaging industry, including adding Jaguar (2002), Newspring (2005), Prairie Packaging (2007), and PWP Industries (2010). In 2010, Pactiv was acquired byReferences
{{Illinois Corporations Packaging companies of the United States Catering and food service companies of the United States Manufacturing companies established in 1999 Companies based in Lake Forest, Illinois Companies listed on the Nasdaq Corporate spin-offs Manufacturing companies based in Illinois 1999 establishments in Illinois 2010 mergers and acquisitions 2020 initial public offerings