September 17, 2014 11:46 PM ET

Containers and Packaging

Company Overview of Reynolds Group Holdings Ltd.

Company Overview

Reynolds Group Holdings Ltd. manufactures and supplies consumer food, beverage, and foodservice packaging products worldwide. The company operates through six segments: SIG, Evergreen, Closures, Reynolds Consumer Products, Pactiv Foodservice, and Graham Packaging. The SIG segment offers aseptic carton packaging systems, including aseptic filling machines, aseptic cartons, spouts, caps and closures, and related services for beverage and liquid food products. The Evergreen segment provides fresh carton packaging products, such as fresh cartons, spouts, and filling machines for juice and milk products; coated groundwood products for catalogs, inserts, magazine, and commercial printing applicati...

148 Quay Street

Level Nine

Auckland,  1010

New Zealand

Founded in 2006

37,000 Employees

Key Executives for Reynolds Group Holdings Ltd.

Chief Executive Officer and Director
Age: 66
Director
Age: 59
Chief Financial Officer
Age: 51
Chief Executive Officer of Pactiv Foodservice
Age: 55
Chief Executive Officer of SIG
Age: 42
Compensation as of Fiscal Year 2014.

Reynolds Group Holdings Ltd. Key Developments

Rank Group Reportedly Plans To Sell CSI

Reynolds Group Holdings Ltd. moves ahead with plans for sale of Closure Systems International, Inc. Reynolds Group Holdings hired Morgan Chase & Co. (NYSE:JPM) for the deal, Plastic News reported citing Financial Times. It is believed that there is no guarantee that a sale will take place.

SIG Combibloc Reportedly Receives Bids

Reynolds Group Holding Ltd. is exploring a sale of the SIG Combibloc Group AG. Reynolds Group Holding selected several private equity groups but no peers to participate in the second round of bidding, Reuters reported citing several people familiar with the deal. It is believed that CVC Capital Partners Limited, Onex Corporation (TSX:OCX), Bain Capital, LLC, Partners Group Holding AG (SWX:PGHN) and BC Partners have been invited for management presentations. Final bids are due next month. Greatview Aseptic Packaging Company Limited (SEHK:468) is no longer taking part in the auction. Representatives for Reynolds Group Holding, SIG Combibloc Group, . Greatview Aseptic Packaging Company Limited, CVC Capital Partners, Onex Corporation, BC Partners, Bain Capital and Partners Group declined to comment. Reynolds Group hired Goldman Sachs Group, Inc. to organise the sale.

Reynolds Group Holdings Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Capital Expenditure Guidance for 2014; Announces Asset Impairment Charges for the Second Quarter Ended June 30, 2014

Reynolds Group Holdings Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $3,615 million, compared to $3,613 million for the last year. Profit from operating activities was $374 million, compared to $354 million for the last year. Profit before income tax was $6 million, compared to loss of $115 million for the last year. Loss attributable to equity holders of the Group was $119 million, compared to profit of $151 million for the last year. Adjusted EBITDA was $678 million, compared to $659 million for the last year. EBITDA was $609 million, compared to $610 million for the last year. For the six months, the company reported revenue of $6,838 million, compared to $6,912 million for the last year. Profit from operating activities was $637 million, compared to $669 million for the last year. Profit before income tax was $231 million, compared to loss of $210 million for the last year. Profit attributable to equity holders of the Group was $11 million, compared to $71 million for the last year. Net cash from operating activities was $150 million, compared to $146 million for the last year. Acquisition of property, plant and equipment and intangible assets was $342 million, compared to $325 million for the last year. Adjusted EBITDA was $1,209 million, compared to $1,249 million for the last year. EBITDA was $1,107 million, compared to $1,188 million for the last year. The company expects to incur approximately $700 million in capital expenditures during 2014 (excluding acquisitions) largely to support business growth, cost reduction initiatives and capital replacements. The company expects to fund these expenditures with cash flows from operations as well as from insurance proceeds. Actual capital expenditures may differ. For the second quarter, asset impairment charges were $4 million, compared to $2 million for the same period last year.

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