Finance


  • Berry Global's headquarters in Evansville, Indiana.
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    Permission granted by Berry Global
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    Berry selling specialty tapes business to private equity for $540M

    This adds to a string of divestitures this year under CEO Kevin Kwilinski. It comes a week after Amcor announced plans to acquire Berry.

    By Nov. 26, 2024
  • Flexible plastic packaging pouches
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    Romeo Gacad via Getty Images
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    Constantia Flexibles taps former Ardagh leader to be next CEO

    David Spratt will assume his position at the Vienna-based company with nearly 10,000 employees in the new year.

    By Nov. 22, 2024
  • Close-up of brown corrugated packaging
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    Lisa Beeby via Getty Images
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    PCA’s new fiber price hike spurs questions for 2025

    Amid a general oversupply of fiber, analysts are waiting to see if markets will recognize Packaging Corporation of America’s planned price increase and if competitors will follow suit.

    By Nov. 21, 2024
  • Side view of a semi-truck with the Amcor logo and the phrase "Creating a new world of packaging"
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    Courtesy of Amcor
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    Amcor acquiring Berry in $8.4B deal to create global plastics and healthcare packaging giant

    The companies anticipate having “greater reach than any other packaging company in the world” and are targeting a mid-2025 close. Also Tuesday, Berry disclosed its Q4 and fiscal 2024 results.

    By Updated Nov. 19, 2024
  • Stacks of reusable plastic transport totes sit on plastic pallets in a warehouse.
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    luchunyu via Getty Images
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    The dual case for reusable transport packaging

    Adopting reusables across the supply chain presents not just sustainability benefits, but also cost savings, according to speakers at Pack Expo International.

    By Nov. 14, 2024
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    Rafa Jodar via Getty Images
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    Ardagh permanently closing Seattle wine bottle facility, citing unfavorable ITC decision

    The closure of the previously halted glass facility impacts 245 workers. Curtailments can positively affect GHG emissions metrics, the company noted in a new sustainability road map on Thursday.

    By Nov. 14, 2024
  • Three different sizes of cartons that bear branding for Pactiv Evergreen's SmartPour.
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    Katie Pyzyk/Packaging Dive
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    Mill divestiture ‘marks an important milestone’ for Pactiv Evergreen

    The Pine Bluff, Arkansas, mill encountered operational challenges during its final month as a Pactiv asset. But its sale, and that of a North Carolina mill, “marks an important milestone,” according to CEO Mike King.

    By Nov. 12, 2024
  • A wide shot of Sealed Air's exhibiting area on the show floor of Pack Expo International, with people and machinery throughout
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    Maria Rachal/Packaging Dive/Packaging Dive
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    Sealed Air CEO Kivits reorganizes verticals, embraces fiber

    Through talking to customers and investors, “it became clear that reorganizing into two verticals, food and protective, was a critical foundational step,” said new CEO Patrick Kivits, a WestRock alum, on Sealed Air’s Q3 earnings call.

    By Nov. 8, 2024
  • An industrial campus located along a body of water.
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    The image by Ken Lund is licensed under CC BY-SA 2.0
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    Clearwater Paper details transition to paperboard focus amid sales jump

    Despite a $5 million negative impact from Hurricane Helene in Q3, the company’s recent mill acquisition — and the sale of its tissue business — are expected to provide longer term support for the paperboard-focused company.

    By Nov. 6, 2024
  • Green glass bottles.
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    DeSid via Getty Images
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    Layoffs tick up in October, led by International Paper and O-I Glass

    Companies such as Dart Container, PPC Flexible Packaging, Sonoco and Metsä Board also disclosed upcoming layoffs in multiple areas.

    By Nov. 5, 2024
  • Exterior view of Berry Global's Circular Innovation and Training Center in Tulsa, Oklahoma.
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    Courtesy of Berry Global
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    Berry completes spin-off of health division to form new company Magnera

    Berry spun off its health and hygiene business to merge with Glatfelter, allowing it to focus on consumer packaging. The newly formed Magnera is now “the largest nonwovens company in the world.”

    By , Updated Nov. 5, 2024
  • Interior of industrial production facility
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    Courtesy of Sonoco
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    Sonoco discloses pending $419M divestiture in China amid period of major change

    CEO Howard Coker said the pending purchase of Eviosys and two more possible divestitures would create a company primarily focused on metal and fiber products. It also disclosed notable hurricane effects in Florida.

    By Nov. 4, 2024
  • Green glass bottles.
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    DeSid via Getty Images
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    Packaging manufacturers share insights from Q3

    Recent earnings calls revealed some notable changes at packaging manufacturers. Follow the latest from Pactiv Evergreen, Clearwater Paper, Sonoco, Amcor, International Paper, Smurfit Westrock and more.

    By Packaging Dive Staff • Updated Nov. 12, 2024
  • Amcor logo
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    Permission granted by Amcor
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    Amcor to exit longstanding closures joint venture in $122M deal

    Amcor noted the deal during its first fiscal 2025 earnings call, in which new CEO Peter Konieczny also discussed the destocking trend in healthcare, plus a focus on higher-margin businesses like meat, pet care and premium coffee.

    By Nov. 1, 2024
  • International Paper's new logo.
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    Courtesy of International Paper/Cision
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    DS Smith deal close pushed to 2025 as IP touts early results from its own turnaround plan

    CEO Andy Silvernail provided numerous updates on a company rethink that has involved site closures, a large corporate restructuring and operational changes. He also previewed the potential for new box plant investments.

    By Oct. 31, 2024
  • stacks of white diapers
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    muchemistry via Getty Images
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    International Paper cuts 674 jobs amid strategic review of global cellulose fibers

    The news of a South Carolina pulp mill closure brings IP’s announced layoffs this month to more than 1,500. A potential sale of the broader GCF business is now under consideration.

    By Oct. 31, 2024
  • Exterior view of a manufacturing facility with the Smurfit WestRock logo
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    Courtesy of Smurfit WestRock
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    Smurfit Westrock cuts 800 positions, eyes footprint optimization and investments

    CEO Tony Smurfit touted “excellent” results for the combined company’s first earnings report but noted a desire to further optimize assets and reduce costs. He also addressed questions about the solid bleached sulfate business.

    By Oct. 30, 2024
  • The commemorative placement of a final beam on the initial construction of O-I's glass packaging production facility in Bowling Green, Kentucky, in April 2024.
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    Courtesy of O-I Glass
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    O-I considers cutting 7% of capacity by mid-2025

    The company reported a net loss in Q3 after curtailing an estimated 18% of production amid destocking trends. It also reported the opening of a new manufacturing facility in Kentucky, its first in decades.

    By Oct. 30, 2024
  • Two sizes of McDonald's McFlurry ice cream treat in cups with four flaps at the top.
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    Courtesy of McDonald's
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    Graphic Packaging to ditch third-party pricing indexes in 2025

    The move to develop a new pricing index follows an industrywide controversy throughout 2024. Plus, GPI disclosed on its earnings call a partnership with McDonald’s on a food service packaging innovation.

    By Oct. 29, 2024
  • Stacks of cardboard boxes in a logistics center
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    Rost-9D via Getty Images
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    Is the fiber packaging M&A surge done? Probably not.

    M&A activity is expected to influence companies’ commercial approaches for the next five to 10 years, according to conference speakers from Wells Fargo, Bloomberg and Hudson Windsor.

    By Oct. 28, 2024
  • Aerial shot of Suzano production site in Brazil
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    Courtesy of Suzano
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    Suzano begins operating 2 US mills, talks bolt-on M&A

    Suzano executives shared more details about the ramp-up in Arkansas and North Carolina, and the Brazilian company’s broader aspirations for growth in the U.S., during an earnings call on Friday.

    By Oct. 28, 2024
  • An array of metal tins with peel-back metal lids.
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    Courtesy of Eviosys
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    Sonoco’s acquisition of Eviosys under review in UK

    U.K. regulators are expected to report back by Dec. 19 on a deal that Sonoco has projected will close in the fourth quarter. Separately, the European Commission recently approved the acquisition.

    By Oct. 25, 2024
  • O-I glass bottles on the hot end of a line.
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    Courtesy of O-I Glass
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    O-I Glass shuttering Ohio innovation center, Illinois plant: reports

    The company has teased multiple closures since Gordon Hardie took over as CEO but previously had shared few specifics on locations.

    By Oct. 24, 2024
  • A manufacturing line with paper-based table ware coming off the conveyor.
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    Courtesy of Georgia-Pacific
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    10 of the latest packaging facility expansions in North America

    Elopak, Georgia-Pacific, Graham Packaging and RediBagUSA are among the companies that recently made investments in new facilities or upgrades.

    By Updated Oct. 25, 2024
  • Close-up of brown corrugated packaging
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    Lisa Beeby via Getty Images
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    PCA reports strong volume and price growth in Q3, previews major new plants in the coming years

    Packaging Corporation of America set new quarterly records in containerboard production and other categories, backed by demand from existing customers. It also reported progress on at least 60 capital projects at existing box plants.

    By Oct. 23, 2024