In 2008 Hart paid US$2.7bn for Alcoa (AA) Packaging & Consumer group. He spun off the company and renamed it Reynolds Packaging Group, which is now headquartered in Lake Forest, Illinois, USA. While this Business is within the packaging industry, it is not paper packaging related, being mostly in the aluminium foil and plastic closure Business. Since the purchase from Alcoa, Hart has cut more than 20% of the workforce within Reynolds, mostly through plant shutdowns, including the flagship Reynolds Wrap Foil Plant in Richmond, Virginia and restructuring efforts. This has resulted in significant savings and profit margin jump for the company, allowing him to issue more debt on behalf of the company in October 2009 and get a high return on his initial investment.