Pactiv Evergreen Sells 50% Stake In Naturepak Beverage Packaging

• Pactiv Evergreen Inc (NASDAQ:PTVE) subsidiary, Evergreen Packaging International LLC, has sold its 50% interest in Naturepak Beverage Packaging Co Ltd to affiliates of Elopak ASA. The financial terms of the deal were not disclosed.
• Naturepak Beverage Packaging supplies customers in the Middle East and Africa region from manufacturing plants in Morocco and Saudi Arabia.
• "The completion of this transaction positions Pactiv Evergreen to focus on our growth in North America where we are established as a leading manufacturer of fresh food and beverage packaging, servicing many of the world's most beloved brands," said CEO Michael King.
• Price Action: PTVE shares closed higher by 5.19% at $10.33 on Tuesday.