Reynolds Group Holdings
| Company type | Private |
|---|---|
| Industry | Packaging |
| Predecessor | Reynolds Metal Company (acquired by Alcoa - 2000) |
| Founded | 1919 in Louisville, Kentucky, U.S. |
| Defunct | Template:End date and age |
| Successor | Pactiv Evergreen Reynolds Consumer Products |
| Headquarters | Auckland, New Zealand |
| Products | Aluminum foil |
| Website | www |
Reynolds Group Holdings was a packaging enterprise based in New Zealand, tracing its origins to Reynolds Metals Company, which ranked as the second-largest aluminum manufacturer in the United States and third globally. In June 2000, Reynolds Metals was acquired by Alcoa. The company evolved into Pactiv Evergreen following an initial public offering in 2020.
Renowned for its consumer brand Reynolds Wrap aluminum foil, Reynolds Metals was also recognized for pioneering advancements in aluminum use. The company operated the aluminum submarine Aluminaut through its Reynolds Submarine Services Corporation.
Its main headquarters were located in Richmond, Virginia, housed in a Modernist building completed in 1958.
History
Established in 1919 as the U.S. Foil Company in Louisville, Kentucky by Richard S. Reynolds Sr., nephew of tobacco industry leader R. J. Reynolds, the firm initially produced lead and tin foil wrappers for cigarette and candy packaging. In 1924, U.S. Foil expanded by acquiring the producer of Eskimo Pies, which were packaged in foil. By 1928, following acquisitions such as Robertshaw Thermostat and a segment of Beechnut Foil, the company became Reynolds Metals. Its headquarters relocated first to New York City in 1931 and later to Richmond, Virginia in 1938.
Beginning aluminum foil manufacturing for packaging purposes in 1926, Reynolds introduced innovations including high-speed gravure-printed foil, aluminum bottle labels, heat-sealed foil food packaging, and foil-laminated insulation paper for buildings. In 1940, it commenced bauxite mining operations in Bauxite, Arkansas, followed by establishing an aluminum plant near Sheffield, Alabama in 1941. The launch of Reynolds Wrap Aluminum Foil occurred in 1947, with aluminum siding development completed by 1945. Anticipating increased postwar aluminum demand, founder Richard S. Reynolds acquired six government defense plants to boost production capacity. Subsequent diversification efforts encompassed plastics and precious metals products such as the introduction of Reynolds Plastic Wrap in 1982.
After World War II, Reynolds marketed aluminum not only for its functional benefits but also for its aesthetic qualities within fashion, home improvement, and architectural markets. Advertising campaigns promoted aluminum gift wrap and yarn for Vogue patterns; notably, the company's headquarters were even clad in aluminum.
Leadership featured four sons of Richard S. Reynolds Sr.: William G., Richard S. Jr., David P., and J. Louis Reynolds. Richard S. Jr., who served as president starting in 1948, expanded the company’s international presence to nations including Venezuela and the Philippines. David P., president from 1976 and a prominent figure in Thoroughbred horse racing, was the final family member to head the business.
Reynolds developed a range of aluminum products beyond foil; less commercially viable ventures included an aluminum bus built with Rohr Industries and a 12-foot aluminum utility boat. Among its most notable achievements was creating the world’s first aluminum submarine, Aluminaut, which played a pivotal role in rescuing the submersible Alvin (DSV-2) in 1969—thus facilitating ongoing research at Woods Hole Oceanographic Institution.
By 1991, Reynolds Metals employed approximately 30,800 workers across over 100 facilities in 20 countries, including 64 plants within the United States, boasting an annual production capacity exceeding one million tons of aluminum products. The acquisition by Alcoa in May 2000 resulted in the formation of the largest aluminum company in the U.S.
On January 21, 2008, Alcoa divested its consumer division to Rank Group Ltd, owned by New Zealand billionaire Graeme Hart, who rebranded it as Reynolds Packaging Group and consolidated it with other packaging firms to establish Reynolds Group Holdings.
Under CEO Paul D. Thomas—formerly an executive at Alcoa—Reynolds announced on September 21, 2008, the closure of its Richmond foil manufacturing facility; production was transferred to Louisville, where Reynolds Wrap originated. Additionally, some spooling operations were moved to Grove City, Pennsylvania by early 2010. In response to economic downturns, Hart subsequently shuttered five more plants within Reynolds; wage freezes were implemented temporarily before adjustments were made as market conditions improved.
Headquarters
Constructed in 1958, the building formerly known as the Reynolds Metals Company International Headquarters is situated in Henrico County, Virginia, close to Richmond. This Modernist edifice was designed by architect Gordon Bunshaft of the firm Skidmore, Owings & Merrill. During Reynolds' tenure, it was referred to as Reynolds EXO. Recognized for its extensive incorporation of aluminum, even within the threads of its carpeting, the structure was listed on the National Register of Historic Places in 2000, marking it as one of the rare mid-20th century buildings to receive this distinction. Currently, ownership rests with the University of Richmond, and it functions as the global headquarters for Altria Group.
Consumer products
Reynolds Wrap originated from Reynolds Packaging, a division initially established to provide aluminum foil specifically for tobacco packaging needs. Following Alcoa’s acquisition of Reynolds Metals, certain non-metal packaging and printing operations were sold off; however, the Reynolds consumer brand along with Reynolds Kitchens—still operating near the original headquarters—were retained. Alcoa’s Reynolds division continues to dominate the market in household baking and cooking supplies, including products such as Cut-Rite Wax Paper.
To support marketing efforts for Reynolds Wrap, the company produced various cookbooks like Outdoor Cooking with Reynolds Wrap (1950) and Casual Cooking (1954). In 1958, it introduced the "Designs for Giving" initiative, which engaged artists to design patterned aluminum gift wraps tailored for events including baby showers, birthdays, weddings, and Christmas.
Reynolds Consumer Products became a publicly traded company on NASDAQ under the symbol REYN on January 31, 2020.
Further reading
External links
- Aluminum companies of the United States
- Companies based in Richmond, Virginia
- Manufacturing companies established in 1919
- Non-renewable resource companies established in 1919
- Manufacturing companies disestablished in 2000
- History of Louisville, Kentucky
- Reynolds family
- 1919 establishments in Kentucky
- 2000 disestablishments in Virginia
- Packaging companies of New Zealand
- Non-renewable resource companies disestablished in 2000
- Alcoa
- 2000 mergers and acquisitions
- Defunct manufacturing companies based in Virginia