Pactiv Evergreen Shareholders Receive Final Payout as Acquisition Closes

The publicly traded journey of Pactiv Evergreen has concluded following the finalization of its acquisition by Novolex Holdings. The deal, valued at a total of $6.7 billion, was completed on April 1, 2025, resulting in a payment of $18 per share to stockholders and the immediate delisting of the company’s shares from the Nasdaq exchange.

A Significant Premium for Shareholders

Novolex Holdings secured Pactiv Evergreen for $18 per common share, a price that represents a substantial 49% premium over the stock’s two-month volume-weighted average price prior to the public announcement of the transaction. The comprehensive $6.7 billion transaction volume includes the assumption of Pactiv Evergreen’s net debt.

The acquisition process, which was initiated in December 2024, moved swiftly through the regulatory landscape. The mandatory waiting period under the Hart-Scott-Rodino Act expired in January 2025, with all remaining necessary approvals secured by the end of March. Pactiv Evergreen now operates as a wholly-owned subsidiary within the Novolex portfolio.

• Final Share Price: $18
• Total Enterprise Value: $6.7 billion
• Premium Paid: 49% above the historical average
• Deal Closure: April 1, 2025

Financial Snapshot Before the Buyout

In its final financial report as a public company, released in February 2025, Pactiv Evergreen presented a mixed picture. The company reported a 7% decline in annual revenue, which fell to $5.148 billion. However, its net loss showed significant improvement, narrowing from $220 million the previous year to $133 million. This reduction in losses was attributed to enhanced gross profit margins and lower interest expenses.

Should investors sell immediately? Or is it worth buying Pactiv Evergreen?

These financials were reported against a backdrop of significant corporate restructuring. The company had been actively executing a transformation strategy that included the closure of manufacturing facilities in Michigan and California, alongside the divestiture of production plants located in Arkansas and North Carolina. The arrival of the Novolex acquisition offer provided a definitive resolution to this period of transition.

The Path Forward Under New Ownership

For investors, the Pactiv Evergreen story has reached its conclusion. The definitive $18 per share distribution was made upon the deal’s formal closure. The entity continues its operations but is now a privately held company under Novolex, meaning former public market investors no longer have a stake in its future performance.

The strategic combination is projected to create one of North America’s most diversified packaging suppliers. A key consideration for industry observers is whether Novolex secured a valuable asset through its multi-billion dollar commitment. The integration process is now underway, with initial synergistic benefits already being pursued through the consolidation of additional manufacturing operations.