Reynolds Consumer Products Inc., the owner of Hefty, Presto and Slide-Rite brands in the plastic business, is looking at a reported $7 billion valuation in a potential initial public offering.
The Bloomberg news agency is reporting the figure disclosure from undisclosed sources about the Lake Forest, Ill.-based company.
Reynolds also owns the Reynolds Wrap and Alcan brands for aluminum foil products as well as the Geosystems brand of high density polyethylene soil stabilization, porous pavement and construction mat products.
It was just in early September that Reynolds Consumer Products said it had "confidentially submitted" paperwork with the U.S. Securities & Exchange Commission regarding a possible IPO.
Reynolds Consumer is the consumer products portion of Reynolds Group Holdings Ltd. Other portions of Reynolds Group include Graham Packaging Co. Inc. and Closure Systems International in the beverage division, and Pactiv in the food packaging division.
CSI recently decided to sell off a portion of its plastics closures business to Cerberus Capital Management LP in a deal that includes operations in the North America, Costa Rica and Japan.
Reynolds Group is owned by Rank Group Ltd. of New Zealand.