Packaging up the Hart dynasty a deal at a time

Pactiv Evergreen makes products for the food and beverage industries. (Image: Pactiv Evergreen)

Tue, 17 Dec 2024

It was about 14 years ago when local billionaire Graeme Hart launched his audacious raid on Illinois-based Pactiv, taking on a mountain of debt as central banks had slashed interest rates to shore up a stricken financial system. The US$6 billion (NZ$10.4b) deal – including Pactiv’s debt – was his biggest and was followed the next year by his purchase of Graham Packaging for US$4.5b, including debt, beefing up the packaging empire he’d already built from Rank Group’s 2006 purchase of Carter Holt Harvey.All told...

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