Pactiv selling building products unit to Ireland's Kingspan

By Catherine Kavanaugh
Staff Reporter

Published: August 19, 2014 3:54 pm ET
Updated: August 19, 2014 3:59 pm ET

Image By: Pactiv Building Products Pactiv Building Products sells its insulation and building wraps products under the GreenGuard brand name.

Related to this story

Topics Construction, Sustainability, Mergers & Acquisitions, United States, Europe

Irish building material manufacturer Kingspan Group plc is acquiring the insulation business of Lake Forest, Ill.-based Pactiv Building Products for $82 million as part of a strategic move to gain access into the U.S. market for energy-efficient houses.

Pactiv offers a wide range of extruded polystyrene (XPS) insulation and building wraps, which are manufactured in Winchester, Va., and sold under the GreenGuard brand.

The investment represents a new frontier for Kingspan in North America, according to CEO Gene Murtagh.

“It is a tremendous opportunity for Kingspan to build upon the growing success of our existing insulated panel business throughout the region, and at a time when North America's focus on energy efficiency and security is at an all-time high," Murtagh said in a news release.

The deal, which is expected to close around Oct. 1, will make Pactiv part of an ambitious growth plan that includes technical expertise in bringing the benefits of insulation and related weatherization products to a greater audience, added Alswinn Kieboom, Pactiv vice president and general manager.

Pactiv Building Products had sales of $84 million in the first half of 2014 and an operating profit of $10 million for the period. Gross assets being acquired are $30 million. Kingspan will pay $72 million cash plus $10 million for working capital.

Pactiv Building Products was a division of Lake Forest-based Pactiv LLC. That parent company is part of Reynolds Group Holdings, which is owned by Auckland, New Zealand-based Rank Group Ltd.


Comments

Pactiv selling building products unit to Ireland's Kingspan

By Catherine Kavanaugh
Staff Reporter

Published: August 19, 2014 3:54 pm ET
Updated: August 19, 2014 3:59 pm ET

Post Your Comments


Back to story


More stories

Image

Comar merging with Convergence Packaging

October 21, 2014 5:07 pm ET

A couple of plastic packaging companies owned by private investment firm Graham Partners are merging into a single entity.    More

Image

Celanese buys conductive polymer supplier

October 21, 2014 4:31 pm ET

Materials firm Celanese Corp. has acquired most of the assets of conductive polymers maker Cool Polymers Inc. for an undisclosed price.    More

Image

Report: SVP takes Klöckner Pentaplast off the market

October 21, 2014 4:19 pm ET

Plastic sheet leader Klöckner Pentaplast Group is no longer for sale, according to an Oct. 21 Reuters article.    More

Image

Wisconsin cast film maker buys Ohio blown film specialist

October 21, 2014 2:57 pm ET

A Midwest U.S. acquisition has created a company armed with two distinct film technologies: cast films and coextruded blown film constructions.    More

Image

Omega buys Vinylex, adds capacity, locations

October 21, 2014 1:48 pm ET

Profile extruder Omega Plastics LLC has expanded its stake in the market by acquiring Vinylex Corp.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events