Apollo and CPPIB-backed Novolex to acquire Pactiv Evergreen for $6.7bn.

Apollo and CPPIB-backed Novolex, a provider of diverse packaging products for multiple industries in the foodservice, delivery and carryout, food processor and industrial markets, agreed to acquire Pactiv Evergreen, a manufacturer and distributor of fresh foodservice and food merchandizing products, for $6.7bn. "This transaction reflects the continuation of our long-term growth strategy to create the industry’s most innovative, sustainable and customer-focused company," Stan Bikulege, Novolex Chairman and CEO.