Hart trims global packaging empire with US$615m sale

By Paul McBeth | Wed, 16 Oct 2019


Billionaire Graeme Hart's packaging empire just got a little smaller after Reynolds Group Holdings sold some of its North American, Costa Rican and Japanese units to investment manager Cerberus Capital Management for US$615 million. Reynolds Group has signed an agreement to sell its Closure Systems International units to Cerberus, with the deal expected to be wrapped up either later this year or early 2020. Reynolds Group will hang on to the Closure Sytems businesses in Europe, the Middle East, Egypt and South America, it said in a filing...