Pactiv Evergreen Inc. Announces Definitive Agreement to Sell Pine Bluff Paper Mill and Waynesville Extrusion Facility to Suzano SA
LAKE FOREST, Ill., July 12, 2024 (GLOBE NEWSWIRE) — Pactiv Evergreen Inc. (NASDAQ:PTVE) (“Pactiv Evergreen” or the “Company”) today announced that it has signed a definitive agreement (the “Agreement”) to sell its Pine Bluff, Arkansas, paper mill (“Pine Bluff”) and Waynesville, North Carolina, extrusion facility (“Waynesville”), to global paper and pulp producer Suzano S.A. (“Suzano”) for $110 million in cash (the “Transaction”), subject to customary adjustments for closing amounts such as working capital. Suzano has agreed to offer employment to current employees at Pine Bluff and Waynesville.