Inside these posts: Containers

Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.

 

Chicago losing Smurfit HQ in RockTenn deal

Though the company moved its headquarters to 222 N. LaSalle St. in 2009, this iconic structure is still known as the Smurfit-Stone Building. (Tribune/Lane Christiansen)

Smurfit-Stone Container Corp., whose local roots trace back to 1926, will leave Chicago behind as a headquarters now that the company has announced plans to be acquired by RockTenn Co. in a $3.5 billion cash and stock deal.

While specific plans for each of Smurfit-Stone’s Chicago-area plants are unclear, those facilities that remain are likely to receive additional technology investment, RockTenn executives indicated Monday. However, Smurfit-Stone’s dual headquarters concept in downtown Chicago and Creve Coeur, Mo., will end and the combined company will be based in RockTenn’s Norcross, Ga., hometown. Get the full story »

Smurfit-Stone closing 2 Virginia plants

Smurfit-Stone Container Corp. is planning to close and consolidate several eastern Henrico County, Va. plants within two months. The Chicago-based paper products company will close two Virginia container plants it owns. According to a notice the company filed with state officials, the closures would result in 229 job cuts by Oct. 31. Get the full story »

Pactiv to be acquired by New Zealand’s Rank Group

Pactiv's new owner, Rank Group, sells products like Reynolds Wrap foil. (Bill Hogan/Chicago Tribune)

Pactiv Corp., the Lake Forest maker of Hefty trash bags, announced an agreement Tuesday to be acquired by New Zealand’s Rank Group Ltd. in a transaction valued at about $6 billion.

Privately-held Rank Group will pay $33.25 in cash for each Pactiv share, or about $4.6 billion. The sale price represents a premium of about 39 percent over Pactiv’s closing price of $23.97 on May 14, the day prior to published reports regarding a potential transaction.

Rank Group also will assume Pactiv’s $1.5 billion debt. Pactiv said the deal is targeted to close by the end of the year. Get the full story »

Pactiv to expand carryout container capactiy

Lake Forest-based Pactiv Corp. said Monday it will spend $14.5 million to expand a plant near Moorehead, Minn. that makes egg cartons and carryout containers for restaurants. Pactiv said it will add three new manufacturing lines, allowing it to make molded-fiber carryout containers.