Home » Pactiv Corp. Buys Prairie Packaging for $1B
Pactiv Corp. Buys Prairie Packaging for $1B
June 5, 2007
Pactiv Corporation, Lake Forest, IL, has acquired Prairie Packaging, Inc., a manufacturer of disposable tableware products for $1 billion, or 7X EBITDA. Prairie's 2007 sales are expected to be $500 million.   ; Prairie manufactures a broad range of tableware and foodservice products, including drink cups, portion cups, containers, cutlery, plates, and bowls. The company operates five manufacturing facilities in the U.S.   ; Pactiv is a supplier in the consumer and foodservice/food packaging markets. Pactiv had 2006 sales of $2.9 billion.