Alcoa Inc. said late yesterday it has agreed to sell its packaging and consumer businesses to the Rank Group Ltd. of New Zealand for $2.7 billion.

Alcoa said in April that it was considering selling the businesses, which include its Closure Systems International, Flexible Packaging, Consumer Products, and Reynolds Food Packaging units.

Alcoa's consumer products and flexible packaging businesses are based in the Richmond area, where the company had the equivalent of 1,300 full-time employees as of Jan. 1. Alcoa acquired Richmond-based Reynolds Metals in 2000 in a $5 billion deal.

Local operations include a plant downtown that makes aluminum foil and a plant on Reymet Road that makes packaging for food, pharmaceutical and tobacco products. The consumer and packaging units also have plants in South Boston and Grottoes.

The cash deal is expected to close in the first quarter of next year, said Alcoa, which is based in Pittsburgh and has executive offices in New York.

Alcoa's packaging and consumer businesses generated about $3.2 billion in revenue and $95 million in after-tax operating income in 2006, representing about 10 percent of Alcoa's revenue and 3 percent of its after-tax operating income.

Alcoa expects to use the proceeds from the sale for the company's core business, including new smelters like the one just completed in Iceland, said Alcoa spokesman Kevin Lowery.

The Alcoa businesses being sold employ about 10,000 workers in 22 countries.

The Rank Group is a private company that employs about 17,000 people worldwide through units including Carter Holt Harvey, SIG Holding and Evergreen Packaging. The acquisition gives it a significant foothold in North America.

Alcoa shares gained 96 cents, or 2.7 percent, to $36.35 in trading yesterday.