Foil Maker Reynolds Sees Three Rounds of Price Hikes in 2021
- Maker of Hefty trash bags sees costs up $300 million this year
- Company’s strategy attracts analyst attention on earnings call
Photographer: Andrey Rudakov/Bloomberg
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Reynolds Consumer Products Inc., the maker of the namesake aluminum foil and Hefty trash bags, is planning another round of price increases -- its third in 2021 alone.
“Our first round of price increases went into effect as planned, and a second round is underway with plans for a third round in the third quarter,” Michael Graham, chief financial officer, said in a statement as the company reported first-quarter results.