Digital Magazine

Pactiv to Buy Majority in Jaguar Corp.

LAKE FOREST, IL, USA—Pactiv announces an agreement to purchase 70 percent of Mexico-based Central de Bolsas, S.A. C.V. (Jaguar Corporation), a thermoformer of high-impact polystyrene (HIPS) for cold cups and plates as well as polystyrene foam for foodservice and food packaging. According to Pactiv, the $66 million (US) purchase price is approximately six times EBITDA, and Jaguar has a 12-month trailing sales of around $95 million (US).

Pactiv says the acquistion is to be accretive immediately and is slated to close in early October; it includes the right to purchase the remainder of Jaguar's business—possibly a state-of-the-art manufacturing facility in Guadalajara, Mexico. Co. says the buy is "consistent with [our] strategy to grow [our] core business through acquisitions." The packaging manufacturer adds, "The joint venture will result in long-term benefits in two key areas: it provides Pactiv an excellent [portal] into the fast-growing Mexican market for disposable packaging products and offers a solid base for sales growth of the company's US-manufactured products; it also provides Pactiv with a source for new products that can serve [our] US customer base."

Pactiv is provider of advanced packaging solutions for the consumer, including applications in foodservice packaging, food packaging, protective packaging, and flexible packaging. Learn more about Pactiv at pactiv.com.

Subscribe to PFFC's EClips Newsletter