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

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Alex Brands buys iconic Shrinky Dinks toys

December 19, 2014 3:15 pm ET

First Slinky, now Shrinky Dinks. What will toy and games investment firm Alex Brands buy next?    More

Image

Judge limits scope of jury verdict against JM Eagle

December 19, 2014 2:30 pm ET

A federal judge in Los Angeles said Dec. 18 that last year's jury verdict issued against J-M Manufacturing Co. — now JM Eagle — for...    More

Image

Jarden hiring for new plastics plant

December 19, 2014 1:45 pm ET

Consumer products conglomerate Jarden Corp. is hiring plastics technicians for a new operation in Erlanger, Ky.    More

Image

Antimicrobial polymers firm TiFiber launching pilot production in Ark.

December 19, 2014 10:58 am ET

TiFiber Inc., which makes synthetic compounds to control dangerous microorganisms, will locate a pilot production facility and its future company head...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events