Pactiv Evergreen Debuts SmartPour™ Pourable Containers and Two New Beverage Carton Filling Machines

Net Income was $165 million, or $0.55 per share, based upon 302.6 million weighted average diluted shares. This compares to third quarter 2023 Net Income of $170 million, or $0.55 per share, based upon 309.2 million weighted average diluted shares. The third quarter of 2024 was impacted by a net charge from special items and amortization of purchased intangibles of $29 million and the third quarter of 2023 was impacted by a net charge from special items and amortization of purchased intangibles of $59 million. Michael Doss, the Company's President and CEO said, "In the third quarter, we saw our packaging volumes turn positive, after Europe's return to growth in the second quarter. Third quarter also saw the launch of new paperboard cup and container innovations for major Foodservice customers and the first-ever round BoardioTM paperboard canister for a leading collagen-protein brand. Our innovations are delivering real value for our customers and for consumers. Despite volume challenges brought on first by customer and retailer destocking and later by the pressure consumers are feeling from price inflation, we are delivering margin strength and consistency in line with the best global consumer packaging companies. That speaks to the value of the portfolio we have created, the success of our sustainable packaging innovations, and our team's commitment to outstanding execution. As volumes continue to improve and our Waco investment moves toward completion, cash generation will rise significantly, and we will deploy that cash to create substantial additional value for shareholders."

Novolex, a portfolio company of The Carlyle Group and an industry leader in packaging choice and sustainability, announced it will acquire The Waddington Group from Newell Brands, Inc. The transaction is expected to close in approximately 60 days. Headquartered in Covington, Ky., The Waddington Group is a global manufacturer and marketer of packaging and disposables serving the foodservice, bakery, deli, produce and confectionery markets. Novolex is a leading provider of packaging solutions serving retail, grocery, food service, hospitality, institutional and industrial markets. Click Read More below for additional information.

Trioworld Group signed an agreement to acquire the French companies Palamy and BRJ through a purchase of all the shares in Sopal SAS. Palamy SAS (Palamy) and Beaudet et René Jean Emballage SAS (BRJ) are both leading players in high performance packaging solutions for bread, frozen food, and other consumer packaging applications in the French market. “We are looking forward to welcoming Palamy-BRJ to the Trioworld Group. The acquisition will give us the opportunity to grow an even stronger position in the market for advanced food packaging solutions in Europe. Both companies have a long and proven history of supplying premium products with a superior service and we have great confidence in the Palamy-BRJ team. We see great potential in joining forces and continuing a successful journey together,” says Andreas Malmberg, CEO of the Trioworld Group.