Mergers & Acquisitions

Closure of the transaction is still ongoing and expected to be finalised at the beginning of 2023.

Interfor announced that it has completed the previously announced transaction to acquire 100% of the equity interests in the entities comprising Chaleur Forest Products ("Chaleur") in New Brunswick, Canada from an affiliate of the Kilmer Group.

Ennis, Inc. announced its acquisition of School Photo Marketing in Morganville, New Jersey. School Photo Marketing provides printing, yearbook publishing and marketing-related services to over 1,400 school and sports photographers servicing schools around the country.

Smurfit Kappa has signed an agreement to acquire Pusa Pack S.L., a bag-in-box packaging plant located in Onda, Spain. Pusa Pack will be integrated into Smurfit Kappa's Bag-in-Box operations in Spain.

Dunn Paper ("Dunn") a leading manufacturer and supplier of high performance, advanced paper and tissue products for use in food, medical, and specialty markets announced today that its first lien secured lenders have acquired select assets of the company as part of a recapitalization of the business. Pursuant to this transaction, the company's name has been changed and will operate as BiOrigin Specialty Products ("BSP" or the "Company").

Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, announced that it has completed the sale its hydroelectric assets on the Presumpscot River in Maine to Dichotomy Power LLC.

The acquisition of Grupo Gondi includes four paper mills, nine corrugated packaging plants and six high graphic plants throughout Mexico that produce sustainable packaging for a wide range of end markets in the region.

Sealed Air Corp said it would acquire peer Liquibox for $1.15 billion, as the packaging firm aims to boost its presence in the quick service restaurants and liquid packaging segments.

Resolute currently expects to complete the merger in the first half of 2023, subject to receipt of regulatory approvals and the satisfaction or waiver of the other conditions to the closing of the merger.

Rayonier Inc. announced that the company has entered into two separate agreements to acquire approximately 172,400 acres of high-quality commercial timberlands located in Texas, Georgia, Alabama, and Louisiana for an aggregate purchase price of approximately $474 million from Manulife Investment Management, a leading timberland investment manager.

Appvion, a Wynnchurch Capital, L.P. ("Wynnchurch") portfolio company, announced the addition of Nekoosa Coated Products, LLC ("Nekoosa" or the "Company") to the platform. Headquartered in Nekoosa, Wisconsin, Nekoosa is a leading provider of specialty engineered materials for the graphics and commercial print markets in North America and Europe.

Greif, Inc. announced it has entered into a definitive agreement to acquire Lee Container Corporation, Inc. ("Lee Container" or "Lee"), an industry-leading manufacturer of high-performance barrier and conventional blow molded containers, for a purchase price of $300 million before taking into consideration tax benefits with an estimated net present value of approximately $30 million.

WestRock Company announced it has entered into a definitive agreement to wholly divest its ownership interest in RTS Packaging, LLC, to joint venture partner Sonoco Products Company for $330 million, subject to customary price adjustments. In addition, the Company has signed a definitive agreement to sell its uncoated recycled paperboard (URB) mills in Eaton, Indiana, and Aurora, Illinois, to Ox Industries for $50 million.

The Eldorado deal has been on hold for five years. It was signed in September 2017 but never concluded due to the parties' disagreement over the closing.

Brazilian pulp and paper producer Klabin SA said Friday it has agreed to sell tracts of forest property for 230 million reais, the equivalent of $44 million.

The main asset included in the Transaction consists on a tissue production plant, located in the municipality of Mogi das Cruzes, in the State of São Paulo, with an annual production capacity of approximately 130 thousand tons.

The deadline for selling a historic Aberdeen paper mill, which went into administration with the loss of more than 300 jobs, has passed.

The Paper Excellence Group and Resolute Forest Products Inc. announced their intention to sell Resolute's Thunder Bay pulp and paper mill to further facilitate the regulatory review process.

Further to an announcement made in July 2022, Mondi confirms that all conditions have been satisfied and the merger of Mondi Tire Kutsan Kağıt ve Ambalaj Sanayi a.ş. and Mondi Olmuksan Kağıt ve Ambalaj Sanayi Anonim Şirketi will come into effect from 30 September 2022. Mondi currently holds 84.65% of the shares of Mondi Turkey Oluklu Mukavva Kağıt ve Ambalaj Sanayi A.Ş. .

Mercer International Inc. has completed its previously-announced acquisition of all of the shares of the parent company of Holzindustrie Torgau (HIT).

Imperial Dade, a leading distributor of foodservice packaging and janitorial supplies and printing paper, announced the acquisition of Boudreault Packaging Ltd ("Boudreault" or the "Company"). The transaction represents the 55th acquisition for Imperial Dade under the leadership of Robert and Jason Tillis, Chairman and CEO of Imperial Dade, respectively. Financial terms of the private transaction were not disclosed.

Sylvamo, the world's paper company, is announcing it reached an agreement and completed the sale of its Russian operations to Pulp Invest Limited Liability Company for $420 million. After foreign currency exchange rates and transaction fees, Sylvamo received approximately $390 million in cash proceeds.

The Mayr-Melnhof Group (MM) has successfully completed the acquisition of Essentra Packaging, which was agreed in June 2022, following the approval of all relevant competition authorities.

Chaleur owns two modern and well-capitalized sawmill operations located in Belledune and Bathurst, New Brunswick, with a combined annual lumber production capacity of 350 million board feet.

Southern Champion Tray (SCT), a leading manufacturer of paperboard packaging for the bakery and food service industry, will purchase substantially all the assets of Evergreen Packaging (Evergreen) based in La Mirada, CA effective October 3, 2022. Evergreen, founded in 2001, is a bakery, deli, food service, and wholesale packaging provider with a predominant market presence in California.