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Emerging growth company
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Item 7.01. Regulation FD Disclosure.
On January 5, 2022, Pactiv Evergreen Inc. (the “Company”) issued a press release announcing the entry into a definitive agreement by its wholly-owned subsidiary, Evergreen Packaging International LLC, to sell its carton packaging and filling machinery businesses in China, Korea and Taiwan to SIG Schweizerische Industrie-Gesellschaft GmbH, a subsidiary of SIG Combibloc Group Ltd. Additional information regarding the proposed transaction, which is subject to regulatory review and approval, can be found in the Company’s press release. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of, or otherwise regarded as filed under, the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or in the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Description |
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99.1 |
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Press Release issued by Pactiv Evergreen Inc., dated January 5, 2022 |
EX 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 5, 2022
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PACTIV EVERGREEN INC. |
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By: |
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/s/ Chandra Mitchell |
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Chandra Mitchell |
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Chief Legal Officer and Secretary |
Exhibit 99.1
Pactiv Evergreen to Sell its Carton Packaging and Filling Machinery Businesses
in China, Korea and Taiwan
LAKE FOREST, Ill., Jan.05, 2022 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (Pactiv Evergreen; NASDAQ: PTVE) today announced that it has entered into a definitive agreement by its wholly-owned subsidiary, Evergreen Packaging International LLC (Evergreen Packaging), to sell its carton packaging and filling machinery businesses in China, Korea and Taiwan to SIG Schweizerische Industrie-Gesellschaft GmbH, a subsidiary of SIG Combibloc Group Ltd, for an enterprise value of approximately $335 million.
The transaction is subject to regulatory approvals and satisfaction of other customary closing conditions and is expected to close in the second or third quarter of 2022.
“Today’s announcement represents another strategic step in Pactiv Evergreen’s overall transformation,” said Michael King, Pactiv Evergreen Chief Executive Officer. “The completion of this transaction will position Pactiv Evergreen to further our strategic focus 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.”
Contacts:
Investors:
Dhaval Patel
732.501.9657
dhaval.patel@pactivevergreen.com
Media:
Beth Kelly
412.303.4771
beth.kelly@pactivevergreen.com
About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ: PTVE) is one of the largest manufacturers of fresh food and beverage packaging in North America. With a team of nearly 16,000 employees, the Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today’s consumers. Its products, many of which are made with recycled, recyclable or renewable materials, are sold to a diversified mix of customers, including restaurants, foodservice distributors, retailers, food and beverage producers, packers and processors. Learn more at www.pactivevergreen.com.