Pactiv Buys Interplast Packaging

Pactiv LLC has acquired Interplast Packaging Inc., a division of private equity-backed Keyes Packaging Group. Keyes Packaging is owned by Tricor Pacific Capital. Pactiv is owned by Rank Group Limited, a privately held investment company based in Auckland, New Zealand. Interplast is based in Montreal. Terms of the deal were not released.

PRESS RELEASE

Interplast Packaging, Inc. (“Interplast”), a divison of Tricor Pacific Capital’s

portfolio company, Keyes Packaging Group, was recently acquired by an

affiliate of Pactiv LLC.  Pactiv is owned by Rank Group Limited, a privately held

investment company based in Auckland, New Zealand.  Based in Terrebonne

(Montreal), Canada, Interplast is the leading North American manufacturer of

recycled PET egg cartons used in the packaging of specialty eggs.  Interplast

serves customers across the specialty egg supply chain including egg producers,

graders, marketing groups and grocery retailers.  The transaction closed on

September 24, 2012.

Keyes Packaging Group (“Keyes”) is a leading manufacturer of specialty packaging

focused on the fruit, egg and wine industries.  Keyes’ other operating subsidiaries

include Keyes Fibre and Wrap Pack.  Keyes Fibre produces molded fiber trays

for fruit, vegetable, egg and wine packaging.  Wrap Pack manufactures specialty

tissues used primarily as protective packaging for pears to prevent damage and

spoilage during storage and shipment.