Packaging up the Hart dynasty a deal at a time

Packaging up the Hart dynasty a deal at a time
Pactiv Evergreen makes products for the food and beverage industries. (Image: Pactiv Evergreen)
Paul McBeth
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...

More Markets

RBNZ rate cut lifts sharemarket, high‑yield stocks climb
Markets Market Close

RBNZ rate cut lifts sharemarket, high‑yield stocks climb

The S&P/NZX 50 Index closed up 0.27% or 37.19 points.

ASB, IAG legal payouts prompt differing verdicts
Markets

ASB, IAG legal payouts prompt differing verdicts

ASB flagged the class action as a contingent liability.

Dairy prices fall for fourth straight auction, whole milk powder down 2.3%
Primary Sector

Dairy prices fall for fourth straight auction, whole milk powder down 2.3%

Prices have slipped again in the latest Global Dairy Trade auction, held overnight on Tuesday, with a 1.6% dip across the board.This was the fourth consecutive decline, following a 0.8% slide at the previous auction, a 4.3% decrease before that, and a 0.3% drop on Aug 19.Whole mi...

ANZ vows to fight CCCFA class action despite ASB settlement
Finance

ANZ vows to fight CCCFA class action despite ASB settlement

“ANZ NZ will continue to defend its case. Our position hasn’t changed.”