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Benzinga
Benzinga
Business
Shivani Kumaresan

Pactiv Evergreen Sells 50% Stake In Naturepak Beverage Packaging

Pactiv Evergreen Michael King Nasdaq Middle East and Morocco North America Saudi Arabia
  • Pactiv Evergreen Inc (NASDAQ:PTVE) subsidiary, Evergreen Packaging International LLC, has sold its 50% interest in Naturepak Beverage Packaging Co Ltd to affiliates of Elopak ASA. The financial terms of the deal were not disclosed.
  • Naturepak Beverage Packaging supplies customers in the Middle East and Africa region from manufacturing plants in Morocco and Saudi Arabia.
  • "The completion of this transaction positions Pactiv Evergreen to focus on our growth in North America where we are established as a leading manufacturer of fresh food and beverage packaging, servicing many of the world's most beloved brands," said CEO Michael King.
  • Price Action: PTVE shares closed higher by 5.19% at $10.33 on Tuesday.
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