Pactiv Evergeen Inc., is a manufacturer and distributor of food packaging and foodservice products, supplying packers, processors, supermarkets, restaurants, institutions and foodservice outlets across North America.
Operations
Pactiv Evergreen operations are divided into three segments: Foodservice, Food Merchandising, and Beverage Merchandising. The company operates 53 manufacturing plants, 26 warehouses, and 8 distribution centers.
History
Pactiv Evergreen was created in 2020 through the initial public offering of
Reynolds Group Holdings Limited (RGHL). Both Pactiv and Evergreen Packaging were predecessor companies previously acquired to become part of Reynolds Group Holdings.
Pactiv’s roots stretch back to 1959, when Central Fibre, American Boxboard, and Ohio Boxboard merged to form
Packaging Corporation of America
Packaging Corporation of America is an American manufacturing company based in Lake Forest, Illinois. The company has about 15,500 employees, with operations primarily in the United States. The CEO is Mark W. Kowlzan.
History and operations
T ...
(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 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 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 by
Rank Group Ltd
Graeme Richard Hart (born 1955) is a New Zealand billionaire businessman and the country's wealthiest person.[Fabri-Kal
Fabri-Kal is a United States company. It is a provider of plastic foodservice and custom thermoformed packaging. Products include consumer and foodservice products including plastic cups, containers and lids. It is privately owned. It is headqu ...](_blank)
a manufacturer of foodservice and consumer brand packaging solutions, for $380 million.
On March 6, 2023, Pactiv Evergreen announced the
Canton, North Carolina plant would close in the summer, affecting 1,100 workers, and that 160 more employees would lose their jobs in
Olmsted Falls, Ohio.
On April 17, 2023, reporting from the
New York Times alleged that migrant children were illegally working overnight shifts at a Pactiv Evergreen factory in Illinois.
References
{{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