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and its consolidated subsidiaries.
−Removed: Reynolds Consumer Products Inc., formerly known as RenPac Holdings Inc., was incorporated in the state of Delaware on September 26, 2011.
+Added: Reynolds Consumer Products Inc.
+Added: was incorporated in the state of Delaware on September 26, 2011.
We own or have rights to trademarks, service marks and trade names that we use in connection with the operation of our business.
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We are a market-leading consumer products company with a presence in 95% of households across the United States.
−Removed: We produce and sell products across three broad categories:
−Removed: cooking products, waste and storage products and tableware.
+Added: We produce and sell products that people use in their homes for cooking, serving, cleanup and storage.
We sell our products under iconic brands such as Reynolds and Hefty, and also under store brands that are strategically important to our retail partners.
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Our retail partners also measure their success in category growth, which positions us as a trusted strategic partner.
−Removed: Our products are typically used in the homes of consumers of all demographics on a frequent basis and meet the convenience-oriented preferences of consumers across a broad range of household activities.
+Added: Our products are typically used in the homes of consumers among all demographics on a frequent basis and meet the convenience-oriented preferences of consumers across a broad range of household activities.
Our products help simplify daily life by assisting with cooking, serving, clean-up and storage through a range of product offerings.
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We have no significant branded competitor in this market.
−Removed: Reynolds is one of the most recognized household brands in the United States and has been the top trusted brand in the consumer foil market for over 75 years, with greater than 50% market share in most of its categories.
+Added: Reynolds is one of the most recognized household brands in the United States, with 98% brand awareness, and has been the top trusted brand in the consumer foil market for over 75 years, with greater than 50% market share in most of its categories.
+Added: We also offer more sustainable solutions, such as Reynolds Wrap 100% recycled aluminum, unbleached parchment paper made with a chlorine-free process and coreless wax paper, which uses less packaging material than traditional wax paper rolls.
• Hefty Waste & Storage :
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We have the #1 branded market share in the U.S.
−Removed: large black trash bag and slider bag segments, and the #2 branded market share in the tall kitchen trash bag segment.
−Removed: Our robust product portfolio in this segment includes a full suite of products, including sustainable solutions such as compostable bags, bags made from recycled materials and orange bags through the Hefty ReNew Program.
+Added: large black trash bag segment, and the #2 branded market share in the slider bag and tall kitchen trash bag segments.
+Added: Our robust product portfolio in this segment includes a full suite of products, including sustainable solutions such as blue and clear recycling bags, compostable bags, bags made from recycled materials and orange bags through the Hefty ReNew Program.
• Hefty Tableware :
−Removed: Through our Hefty Tableware segment, we sell both branded and store brand disposable and compostable plates, bowls, platters, cups and cutlery.
−Removed: Our Hefty branded products include dishes and party cups.
+Added: Through our Hefty Tableware segment, we sell both branded and store brand disposable and compostable plates, bowls, platters, containers, cups and cutlery.
+Added: Our Hefty branded products include dishes, party cups, cutlery and containers.
Hefty branded party cups are the #1 party cup in America measured by market share.
−Removed: Our branded products use our Hefty brand to represent both quality and great value, and we bring this same quality and value promise to all of our store brands as well.
+Added: Our branded products use our Hefty brand to represent both quality and value, and we bring this same quality and value promise to all of our store brands as well.
We sell across a broad range of materials and price points in all retail channels, allowing our consumers to select the product that best suits their price, function and aesthetic needs.
These materials include sustainable solutions, such as Hefty ECOSAVE and Hefty Compostable Printed Paper Plates.
−Removed: In 2023, we also tapped into the nostalgia trend and brought back Zoo Pals plates, garnering 3.7 billion media impressions.
+Added: In 2024, we increased the post-consumer recycled content in some of our cups and we added compostable party cups to our assortment.
• Presto Products :
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We utilize two routes of distribution to deliver our products to our customers.
−Removed: In many cases, we ship directly from our warehouses to the customer's distribution center.
+Added: In many cases, we ship directly from our manufacturing plants to the customer’s distribution center.
Given the breadth of our product offerings, we are also able to optimize truckloads and reduce inventory for our retail partners by shipping trucks from mixing centers filled with SKUs across all of our product categories.
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Within each product category, most of our products compete with other widely advertised brands and store brand products.
−Removed: Competition in our categories is based on a number of factors including brand recognition, price and quality.
+Added: Competition in our categories is based on a number of factors including brand recognition, price, quality and innovation.
We benefit from the strength of our brands, a differentiated portfolio of quality branded and store brand products, as well as significant capital investment in our manufacturing facilities.
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holidays in our fourth quarter, primarily due to the holiday use of Reynolds Wrap, Reynolds Oven Bags, Reynolds Parchment Paper and disposable aluminum pans.
−Removed: Our tableware products generally have higher sales in the second quarter of the year, primarily due to outdoor summertime use of disposable plates, cups and bowls.
+Added: Our tableware products generally have higher sales in the second and fourth quarters of the year, primarily due to outdoor summertime and holiday uses of disposable plates, cups, bowls and cutlery.
Raw Materials and Suppliers
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Our safety performance continues to outperform the industry’s average safety performance by a significant margin, and we continue to progress toward our goal of zero incidents through increasing awareness of opportunities for improvement and implementing effective solutions to reduce risks associated with contact with equipment, slips, trips, and falls, as well as ergonomic hazards.
−Removed: Diversity, Equity & Inclusion:
−Removed: We believe that a diverse, equitable and inclusive organization will enhance the sense of belonging for our colleagues, retail partners, consumers, shareholders and communities.
−Removed: We are committed to building a respectful workplace, educating our colleagues and integrating DE&I within our overall business strategy.
−Removed: Treating others with dignity, empathy and respect are the foundation of our DE&I journey, and we will continue to implement best practices, educate our colleagues on the importance of implementing DE&I strategies, promote a culture where all feel they belong and implement specific solutions to build and retain a more diverse and inclusive experience based upon equity.
+Added: People & Culture:
+Added: We have built a culture based on treating others with respect and working collaboratively on shared goals.
+Added: Our value of putting safety first promotes a culture of caring and watching out for the safety of each other.
+Added: Treating others with dignity, empathy and respect is the foundation of our culture.
+Added: We value our relationships with our colleagues, retail partners, consumers, shareholders and communities.
+Added: We are committed to communicating our goals, offering training and development opportunities and integrating an inclusive approach to talent management into our overall business strategy.
+Added: We will continue to promote a culture that values inclusion and belonging and sees unique experiences and viewpoints as growing our understanding of how we can work better together.
+Added: We will continue our efforts to build and retain a robust workforce that welcomes talent and capability to strengthen all aspects of our business.
Talent Acquisition:
−Removed: We are committed to a diverse and inclusive workplace environment in which individual differences are recognized, respected and appreciated.
−Removed: We provide job opportunities for individual growth in our exciting, dynamic and fast-paced manufacturing plants and corporate office.
−Removed: We have made investments in our Talent Acquisition team to better enable us to source and recruit talent in today’s challenging labor market, assist in a great candidate experience and provide a welcoming new hire onboarding.
−Removed: To support our plants, we have also created a comprehensive hourly employee recruiting strategy and social media plan.
−Removed: In addition, we have invested in tools and resources for a consistent and efficient approach to identifying diverse talent.
+Added: We are committed to a workplace environment in which individual differences are recognized, respected and appreciated.
+Added: We provide job opportunities for individual growth in our exciting, dynamic and fast-paced manufacturing plants and offices.
+Added: Our management and Talent Acquisition teams use data from workforce planning and recruiting.
+Added: In 2024, we updated our applicant tracking system to better enable us to source and recruit talent in today’s challenging labor market, assist in a great candidate experience and provide a welcoming new-hire onboarding.
+Added: To support our plants, we have also created a comprehensive hourly employee recruiting strategy for a consistent and efficient approach to identifying and onboarding diverse talent.
As many of our products are used in food packaging, our business is subject to regulations governing products that may contact food in all the countries in which we have operations.
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In addition, the Environmental Protection Agency is regulating certain greenhouse gas emissions under existing laws such as the Clean Air Act.
−Removed: A number of states and local governments in the United States have also implemented or announced their intentions to implement their own programs to reduce greenhouses gases.
−Removed: We are also subject to various laws and regulations related to data privacy and protection, including the California Privacy Act of 2018 (“CCPA”) and the European Union’s General Data Protection Regulation (“GDPR”).
+Added: A number of states and local governments in the United States have also implemented or announced their intentions to implement their own programs to reduce greenhouse gases.
+Added: We are also subject to various laws and regulations related to data privacy and protection, including the California Consumer Privacy Act of 2018 (“CCPA”) and the European Union’s General Data Protection Regulation (“GDPR”).
We have internal programs in place to manage and monitor global compliance with these various requirements.
8 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.