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Pactiv Evergreen Inc. - PTVE STOCK NEWS

Welcome to our dedicated page for Pactiv Evergreen news (Ticker: PTVE), a resource for investors and traders seeking the latest updates and insights on Pactiv Evergreen stock.

Pactiv Evergreen Inc. (NASDAQ: PTVE) delivers essential packaging solutions for North America's foodservice and retail sectors through integrated manufacturing and sustainable innovation. This dedicated news hub provides investors and industry professionals with authoritative updates on corporate developments, strategic initiatives, and market positioning.

Access real-time announcements including quarterly earnings reports, product innovation launches, operational expansions, and sustainability progress. Our curated collection features press releases about manufacturing advancements, leadership updates, and partnerships that shape the food packaging landscape.

Discover updates on PTVE's SmartPour technology implementations, recycled material initiatives, and distribution network enhancements. The resource serves as a reliable reference for tracking regulatory compliance milestones and industry recognition achievements.

Bookmark this page for streamlined access to verified information about Pactiv Evergreen's market activities. Check regularly for updates that matter to stakeholders in food packaging technology and sustainable manufacturing solutions.

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Pactiv Evergreen (NASDAQ: PTVE) has received all required regulatory approvals for its previously announced acquisition by Novolex. The transaction, valued at $18.00 per share in cash, is expected to close on April 1, 2025. Upon completion, Pactiv Evergreen will become a private company and will be delisted from Nasdaq. The company has engaged Goldman Sachs & Co. and Lazard Frères & Co. as financial advisors, with Paul Hastings LLP serving as legal advisor for the transaction.

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Pactiv Evergreen (NASDAQ: PTVE) announced the expiration of the Hart-Scott-Rodino waiting period for its planned acquisition by Novolex. The previously announced deal values PTVE at $18.00 per share in cash. The transaction is expected to close in the second quarter of 2025, pending foreign antitrust approvals and other customary closing conditions.

Upon completion, Pactiv Evergreen will become a private company and will be delisted from Nasdaq. Goldman Sachs & Co. and Lazard Frères & Co. are serving as financial advisors, while Paul Hastings LLP is acting as legal advisor to Pactiv Evergreen.

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Pactiv Evergreen (PTVE) has achieved Forest Stewardship Council® (FSC®) certification for its molded fiber egg cartons and filler flats, verifying they are made from 100 percent recycled materials. The certification applies to all molded fiber egg packaging produced at facilities in Macon, Georgia; City of Industry, California; Moorhead, Minnesota; and Chihuahua, Mexico.

The company will showcase its FSC-Recycled labeled products at the International Production & Processing Expo (IPPE) in Atlanta from January 28-30, 2025. This certification, under license FSC C125335, represents a significant milestone in the company's commitment to sustainable packaging solutions and environmental responsibility.

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Novolex and Pactiv Evergreen (NASDAQ: PTVE) announced a definitive agreement to combine, forming a leading manufacturer in food, beverage, and specialty packaging. Pactiv Evergreen shareholders will receive $18.00 per share in cash, valuing the transaction at $6.7 billion. The combined company will offer over 250 brands and 39,000 SKUs, enhancing its ability to serve diverse customer bases. This merger aims to accelerate product innovation, expand service and distribution capabilities, and bolster sustainability efforts. The transaction, supported by Apollo Funds and CPP Investments, is expected to close in mid-2025, making Pactiv Evergreen a privately held company. The combined entity will be led by Novolex Chairman and CEO Stan Bikulege. The merger has been approved by Pactiv Evergreen's Board of Directors and its majority shareholder, Packaging Finance , pending regulatory approvals and customary closing conditions.

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Pactiv Evergreen (NASDAQ: PTVE) has announced that its board of directors has approved a quarterly dividend of $0.10 per share of common stock. The dividend will be paid on December 13, 2024 to shareholders of record as of the close of business on December 2, 2024.

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Pactiv Evergreen (PTVE) reported Q3 2024 financial results with net revenues of $1,333 million, down 3% from Q3 2023. The company recorded a net loss from continuing operations of $213 million, compared to net income of $28 million in Q3 2023, primarily due to a $322 million impairment charge from the Pine Bluff mill divestiture. Adjusted EBITDA was $214 million, down from $227 million in Q3 2023. The company updated its full-year 2024 Adjusted EBITDA guidance to $800-810 million. The company has reduced its total outstanding debt by $641 million since December 2022 and declared a Q3 dividend of $0.10 per share.

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Pactiv Evergreen (PTVE) has launched SmartPour™, a new patented packaging solution for dry ingredients featuring an easy-to-pour and resealable closure. The containers eliminate the need for plastic bag inserts and are available in six sizes with vertical and horizontal layouts. The company also introduced two new beverage carton filling machines: the N-200 for school milk cartons and the H-40M for half-gallon filling. SmartPour™ containers are FDA compliant, pre-qualified as 'Widely Recyclable' by How2Recycle®, and made from responsibly sourced paper materials. All products will be showcased at PACK EXPO International in Chicago from November 3-6, 2024.

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Pactiv Evergreen (NASDAQ: PTVE) has announced its schedule for third quarter 2024 financial results. The earnings release will be published on Tuesday, November 12, 2024, at 6:05 a.m. EDT, followed by a webcast and teleconference at 8:30 a.m. EDT the same day. The call will feature CEO Michael King, CFO Jon Baksht, and VP of Strategy & IR Curt Worthington. Participants can join via webcast through the company's Investor Relations website or dial in at 877-317-6789 (domestic) or 412-317-6789 (international). A replay will be available on the website after the call.

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Pactiv Evergreen Inc. (NASDAQ: PTVE) has completed the sale of its Pine Bluff, Arkansas, paper mill and Waynesville, North Carolina, extrusion facility to Suzano S.A. for $110 million, subject to customary adjustments. This transaction is a significant step in Pactiv Evergreen's strategy to focus on core North American converting operations and transition to a capital light business model.

CEO Michael King stated that the sale is expected to improve profitability and cash flows, as well as strengthen the company's balance sheet. He also expressed gratitude to the employees at the sold facilities for their dedication and commitment to Pactiv Evergreen and its customers.

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Pactiv Evergreen Inc. (NASDAQ: PTVE) has announced that its Chief Financial Officer, Jon Baksht, will be presenting at the 2024 Jefferies Industrials Conference on September 4, 2024, at 4:15pm ET. This presentation offers an opportunity for investors to gain insights into the company's operations and financial performance.

Interested parties can access a live webcast of the presentation along with accompanying slides through Pactiv Evergreen's investor relations website. For those unable to attend the live event, a replay of the webcast will be available for 90 days following the presentation, ensuring that stakeholders have ample time to review the information shared during the conference.

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Pactiv Evergreen Inc.

Nasdaq:PTVE

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PTVE Stock Data

3.27B
40.91M
77.33%
22.71%
0.69%
Packaging & Containers
Plastics, Foil & Coated Paper Bags
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United States
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