Pactiv Evergreen to Acquire Fabri-Kal, a Leading Manufacturer of Foodservice and Consumer Brand Packaging Solutions

Quarter Highlights *Delivered net sales of $5.1 billion, up 2 percent, with organic sales growth of 5 percent. *Gross margin was 35.8 percent, up 530 basis points versus the prior year, driven by favorable net revenue realization and productivity. *Raised 2023 outlook for organic growth to 4% - 5%, and for adjusted earnings per share growth of 15% - 17%, with adjusted operating margin up 170 basis points at the midpoint versus last year.

Sonoco has awarded a gold-level Sonoco Sustainability Star Award to Interbake Foods of Front Royal, Va., a subsidiary of Weston Foods of Canada, for achieving zero waste to landfill status. Sonoco Recycling worked with Interbake on a new recycling program designed to maximize rebate, reduce costs and streamline recycling collection. Solid waste recycling was optimized through methods that made collection and processing more efficient, then supplemented with a waste-to-energy program that ultimately resulted in a landfill-free operation. “Interbake really worked smart as well as hard to achieve landfill-free status,” said Mike Pope, general manager and president, Sonoco Recycling. “They took a close look at their operations and found ways to increase efficiencies as well as rebates. Their program provides a great example how recycling isn’t just the right thing to do – it can be the best business decision as well.” Click Read More below for additional information.

Tetra Pak has collaborated with a leading company in the European juices, nectars and soft drinks markets to launch the new Tetra Prisma® Aseptic 300 Edge beverage carton. This innovative portion package stands out on the shelf, with its distinct look and ergonomic design catering to the preference of modern consumers for taller, slimmer packaging. Research1 shows that, with buyers rethinking discretionary spending, a ‘less is more’ design approach is gaining in popularity, characterised by pared back simplicity. Designed for ease of use, the shape of the new paper-based carton package also makes it more comfortable to hold, particularly for smaller hands. Its wide opening ensures a steady flow for easy drinking, while its compact size makes it convenient for on-the-go consumption. Product wastage is minimised by combining the slanted top of the Tetra Prisma® Aseptic 300 Edge carton with a DreamCap™ 26 Pro tethered closure. This helps to prevent litter too, as the cap stays attached to the package; therefore, it can be collected alongside the carton once consumers have enjoyed their drink and put the container in the correct bin for recycling.