SIG completes the acquisition of Evergreen Asia

03 Aug 2022
SIG
www.sig.biz/en/media/press-releases/sig-complete...

SIG today announces the completion of its acquisition of Pactiv Evergreen Inc.’s Asia Pacific chilled carton operations (“Evergreen Asia”). The business will be fully consolidated from the beginning of August 2022.

On 5 January 2022, SIG announced that it had entered into an agreement to acquire Evergreen Asia, a leading system supplier of filling machines, cartons, closures and after-sales service in the chilled segment, covering dairy and non-carbonated soft drinks, with production facilities in mainland China, Taiwan and South Korea.

For the twelve months ended 31 December 2021, Evergreen Asia generated revenue of approximately €135 million and adjusted EBITDA of approximately €24 million¹. It was acquired for an enterprise value of $335 million and SIG expects to realise run-rate cost synergies of approximately €6 million.

The acquisition provides new growth opportunities in Asia, where demand is growing strongly especially for fresh milk in China. Evergreen Asia enables SIG to further expand its existing customer relationships with national dairies and provides access to new customers at a regional and local level. SIG intends to leverage its R&D know-how, innovation capabilities and its marketing expertise to introduce more innovative packaging formats in this market segment.

Lidong Fan, President & General Manager Asia Pacific North, said: “Evergreen Asia is an exciting addition to our business. With chilled carton packaging, we can offer our customers an even more comprehensive range of products. Together, we will also continue to innovate and provide safe and sustainable packaging that consumers expect today and in the future.”

¹ Unaudited

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Jo Webb
Company News
English
Created 03 Aug 2022
Modified 26 Aug 2022
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SIG completes the acquisition of Evergreen Asia

See also

SIG carton packaging modernizes the conventional ambient vegetable aisle in the Netherlands

Solarec and SIG forge strong new partnership

Terra Alegre first globally to introduce tethered SIG MaxxCap Linked on SIG’s carton packs

Flexibility and speed taken to next level with introduction of SIG Digital Printing for aseptic carton packs

Maspex first to introduce domeTwist closure with tethered cap for SIG's carton bottle combidome

OSM Łowicz boosts sustainability credentials with SIG’s combibloc ECOPLUS packaging material – World's first use in cream category

SIGNATURE EVO from SIG wins Gulf Sustainability Awards for “Best Sustainable Product”

Mexico: SIG wins the “Envase Estelar” 2022 for combifitMidi

SIG to acquire Scholle IPN to broaden leadership in sustainable packaging systems and solutions

SIG announces SIGNATURE EVO, the world’s first full barrier aluminium-free aseptic carton solutions

Start-up Tiptoh partners with SIG and Olympia Dairy to launch first pea protein beverages in Belgium

SIG invests €12 million in new European tech center

Nestlé Vietnam opts for SIG’s “One Cap, One Code” solution to engage with Gen Z consumers

SIG and Framptons bring stand out packaging innovation to the plant-based beverage market

SIG puts a cap on product waste

SIG's unique on-the-go combismile carton pack enters french market with new Volvic fruity flavoured ranges

First commercial launch for SIG’s Paper U-straw for aseptic cartons

SIG sustainable straws

Health in your hands

Start-up GROUNDED has partnered with SIG to launch innovative plant-based protein shakes

Single-minded consumers

Good things come in small packagesOOD THINGS COME IN SMALL PACKAGES

nutpods launches new oat creamers in combidome packaging from SIG

Introducing an innovative lifestyle pack ready to conquer Europe’s on-the-go market

SIG's SIGNATURE PACK wins French packaging award

Recycling: How cartons compare

How cartons are recycled

Connect to nature: Closing the loop on packaging

Maple Hill partners with SIG to make grass-fed organic milk available on-the-go

Connect to nature: Making supply chains sustainable

SIG set for growth with new state-of-the-art production plant in China

Beverage cartons made with ASI-certified aluminium

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