Pactiv Evergreen Inc. Secures All Necessary Regulatory Clearances for Planned Acquisition by Novolex

Pactiv Evergreen Inc. Announces Receipt of All Required Regulatory Approvals for Planned Acquisition

Pactiv Evergreen Inc. (NASDAQ: PTVE), a leading manufacturer of sustainable food and beverage packaging solutions, today announced that it has received all required regulatory approvals for its planned acquisition of Evergreen Packaging Inc. The deal, which was first announced in February, is now expected to close in the coming days.

The acquisition will expand Pactiv Evergreen's product offerings and enhance its position in the market as a leading provider of sustainable packaging solutions. The combined company will have a broader portfolio of products and technologies, as well as increased scale and resources to drive innovation and growth.

"We are pleased to have received all necessary regulatory approvals for the acquisition and are now focused on completing the transaction," said Pactiv Evergreen President and CEO, Mike Haller. "The addition of Evergreen Packaging will further solidify our position as a leader in the packaging industry and enable us to better serve our customers with a more comprehensive range of products and solutions."

The acquisition is expected to be completed in the coming days, subject to customary closing conditions. Pactiv Evergreen expects the transaction to be accretive to its earnings in the first year following closing.

Pactiv Evergreen Inc. is a leading manufacturer of sustainable food and beverage packaging solutions. The company's products include paper pulp packaging, plastic packaging, and molded pulp packaging, among others. Pactiv Evergreen is committed to providing innovative, sustainable, and cost-effective packaging solutions to its customers.

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