Stora Enso has received regulatory approval from the EU Commission to proceed with the acquisition of De Jong Packaging Group, announced in September 2022. Closure of the transaction is still ongoing and expected to be finalised at the beginning of 2023.
https://www.storaenso.com/en/newsroom/regulatory-and-investor-releases/2022/12/stora-enso-received-approval-for-the-acquisition-of-de-jong-packaging-group
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Pactiv Evergreen Inc. announced that its wholly-owned subsidiary, Pactiv Evergreen Group Holdings Inc. has reached a definitive agreement to acquire Fabri-Kal, a leading manufacturer of foodservice and consumer brand packaging solutions. The transaction, valued at approximately $380 million, subject to adjustments for cash, working capital and indebtedness, is expected to close late in the third quarter or early in the fourth quarter of this year, subject to regulatory approvals and satisfaction of other customary closing conditions. “Combining these two complementary companies will further expand Pactiv Evergreen’s position in the Foodservice segment, broaden our sustainable packaging product offerings and customer base, and increase our manufacturing capacity and distribution capabilities,” said Mike King, Pactiv Evergreen CEO. “Fabri-Kal is well known for its high-quality products, longstanding customer relationships and sustainable packaging solutions. We look forward to the Fabri-Kal team joining Pactiv Evergreen and working together to drive increased value for our shareholders, customers and employees.”
Net sales of $1.38 billion, down 3% as reported; down 1% constant currency Net earnings of $94 million, down 18% Earnings per share (Diluted) of $0.65, down 16% Cash flow from operations (year to date) use of $7 million Cash flow from operations includes the impact of the $175 million tax deposit
When you reach for your favorite cereal in the morning, you probably don’t think much about the box it comes in. But did you know that your cereal box isn’t made of cardboard? It’s actually made of something called paperboard!
Common Uses of Paperboard Packaging
Food & Beverage: Examples include dry-food boxes like cereal or pasta, frozen food packages, gum packaging and snack containers.
Pharmaceutical & Healthcare: Examples include over-the-counter medicine boxes and personal care product packaging for things like toothpaste, tissues, band-aids and bars of soap.
Cosmetics & Beauty Products: Examples include packaging for hair dye, face creams and make-up.
Electronics: Examples include small electronics like tablets, phones and cords.
Consumer Goods & Household Products: Examples include boxes of envelopes, stationery and toy packaging.