Mergers & Acquisitions

Both Northstar and S3 serve multi-facility manufacturers and distributors across the food, consumer packaged goods, and industrial sectors with a centralized solution to manage and divert industrial waste streams into beneficial reuse applications. Northstar is a portfolio company of Ridgemont Equity Partners, a middle market private equity firm. Financial terms of the transaction were not disclosed.

Stora Enso has signed an agreement to divest its paper production site in Hylte, Sweden and all its related assets to Sweden Timber, a Sweden-based sawmill and planing mill company. The enterprise value is approximately EUR 18 million. The completion of the transaction is expected in the first half of 2023. Concerning the Anjala paper site in Finland, Stora Enso has decided to discontinue the divestment process.

Amcor announced it has entered into an agreement to acquire Shanghai-based MDK. MDK generates annual sales of approximately $50 million and is a leading provider of medical device packaging, a key priority growth segment for Amcor.

Cosmo Specialty Fibers Inc. has gained new ownership following more than 12 years since the mill was bought by The Gores Group, a Los Angeles-based private equity firm, in 2010. The United Kingdom-based firm, Charlestown Investments, is the new owner.

The closing is expected to take place on January 31, 2023.

Mondi plans to invest around €200 million in converting the existing lightweight coated mechanical paper machine at the mill into a high-quality, cost-competitive recycled containerboard machine with an annual capacity of around 420,000 tonnes.

Paper Excellence Group, a private company controlled by an Indonesian billionaire, is poised to expand in Canada's forestry industry by diversifying into the lumber sector with its contentious takeover of Resolute Forest Products Inc.

Sylvamo, the world's paper company, closed an agreement Monday acquiring Stora Enso's uncoated freesheet paper mill in Nymölla, Sweden, for 150 million euros. The mill, strong brands it produces and team members who operate and support the facility are now officially part of Sylvamo.

The acquisition of De Jong Packaging Group will begin a new phase of renewable packaging solutions within Stora Enso. On top of Stora Enso's existing corrugated facilities, De Jong Packaging Group has 16 sites in total in the Netherlands, Belgium, Germany, and the UK. Most of the sites are corrugated converting and packaging wholesale facilities and they include two corrugators, 16 processing machines and 46 tray erectors. Together they produce 2,5 million boxes a day.

Austrian Mayr-Melnhof Holz sold its sawmill MM-Efimovsky in Russia to Aspek-Les, according to the Unified State Register of Legal Entities of Russia.

Stora Enso has completed the acquisition of the Netherland-based company De Jong Packaging Group, one of the largest corrugated packaging producers in the Benelux countries. The acquisition announced in September 2022 with an enterprise value of approximately EUR 1,020 million was closed following regulatory clearances and employee consultation.

The transaction remains on course to close in the first half of 2023, subject to the satisfaction or waiver of the other conditions to the closing of the merger.

Marcal Paper, a leading manufacturer of recycled and eco-friendly bath, towel, and tissue products, announced today that it has acquired von Drehle Corporation, a premier provider of quality towel and tissue products for the away-from-home market. Von Drehle Corporation will operate as a division of Marcal Paper.

This follows Wynnchurch's investment in Nekoosa Coated Products, LLC ("Nekoosa") in November 2022.

Recycled paper producer Saica Group has reached an agreement to acquire the majority of shares (76%) of Fox Recykling, a waste management company in Poland. Thanks to this acquisition, Saica strengthens its growth strategy in Eastern Europe and expands the footprint of one of its business divisions: Saica Natur.

SCA has acquired its first wind farm with the purchase of 36 wind turbines in Markbygden in Piteå municipality, northern Sweden. The park is acquired from the German company Enercon.

The Russian authorities have not approved the sale of Mondi's Syktyvkar mill in the Komi Republic, Russia. Possible reason is too high transaction price.

The selling price amounts to approx. Euro 134 million.

The cash and debt free consideration value is €370 million.

Stora Enso has initiated a sales process for a possible divestment of its consumer board production site in Beihai, China.

Greif, Inc., a global leader in industrial packaging products and services, announced that it has completed its previously announced acquisition of Lee Container Corporation, Inc.

Mondi said there was no certainty as to when the deal would be completed given the political and regulatory backdrop.

UPM has agreed to sell the Renforsin Ranta business park in Kajaani to Kansallisholding Oy. The site will be operated by Redeve Oy, the parent company of Kansallisholding, specialising in the ownership and development of industrial real estate.

Prinzhorn Group, having a strategic long term interest in Italy, has made a proposal to acquire corrugated packaging plant Scatolificio La Veggia S.p.A. ("SLV"), Roteglia, which is part of the La Veggia Group of companies in the course of a restructuring process under Italian law.

UFP Industries announced that its affiliate, UFP Packaging, LLC, has acquired Titan Corrugated, Inc., a manufacturer of corrugated packaging products, and its affiliate All Boxed Up, LLC, a corrugated box distributor. The combined companies had trailing 12-month sales through October 2022 of approximately $46.5 million.