Rock-Tenn Co. has entered into a definitive agreement to sell its Plastic Packaging Division to Pactiv Corp.
James Rubright, Rock-Tenn’s chairman and CEO, said, "This sale completes our previously announced plans to explore strategic alternatives for the plastic packaging business. Pactiv Corporation is a leader in plastic packaging and we are confident that they will build on our progress in the thermoformed packaging business. This transaction will further strengthen our ability to invest in growth in our core businesses."
The transaction, valued at $60 million, is expected to close next month and is subject to normal regulatory approvals and customary conditions to closing.Get curated news on YOUR industry.
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