Pactiv, one of the world’s leading providers of advanced packaging solutions and owner of the Jiffy brand, has announced that an affiliate of AEA Investors LLC has signed an agreement to acquire substantially all of the protective and flexible business units of Pactiv Corporation. The units to be acquired include Protective Packaging Europe, responsible for Jiffy and Ambassador.
AEA is said to be a pioneer in the private equity business with a majority ownership in a number of organisations.
The transaction is expected to be completed by the third quarter and the company will operate as a stand alone corporation. The current management and staff are expected to stay in place.
30-Jun-2005
