Mergers & Acquisitions

Pactiv Evergreen Inc. announced that its wholly-owned subsidiary, Evergreen Packaging International LLC, has completed the previously announced sale of its carton packaging and filling machinery businesses in China, Korea and Taiwan to SIG Group Ltd.

Chilean packaging and sanitary products manufacturer CMPC agreed to buy Mexican tissue firm Grupo P.I. Mabe for $293 million, according to a filing to the stock exchange.

Mondi Group has agreed to sell its Russian Syktyvkar plant to Augment Investments Limited owned by Russian billionaire Viktor Kharitonin for 95 billion rubles ($1.5 billion).

Tetra Pak will be exiting its remaining operations in Russia. This is due to the cumulative impact of the restrictions on exports to Russia leading to an unsustainable supply chain, as a result of which the company is left with no other option than to exit the country.

WestRock Company announced that it has entered into an agreement to acquire the remaining interest in Grupo Gondi for $970 million, plus the assumption of debt, representing an estimated implied enterprise value of $1.763 billion.

Boise Cascade Company announced that it has completed the previously announced acquisition of Coastal Plywood Company and its manufacturing operations in Havana, Florida, and Chapman, Alabama.

The aggregate purchase price is €270 million (approx. $275.4 million), inclusive of forecasted net working capital of approximately €43 million (approx. $43.9 million).

Calvert has manufacturing facilities in Washougal, Washington and Vancouver, Washington with a combined annual glulam capacity of approximately 35 million board feet on a two shift basis.

Antalis has signed a binding offer to acquire the Cohal Group (Autoadhesivos Cohal, S.A. and Garalmi, S.A.), a leading supplier in the Spanish self‐adhesive labels and packaging products distribution market.

West Fraser Timber Co. Ltd. says it has not received any takeover offer after a report that Kronospan, an existing shareholder, and CVC Capital Partners were interested in making a bid for the company.

Impressions, based in St. Paul, MN and founded in 1967 by Mark Jorgensen, Sr., is a market leader in the design, engineering and production of high-end paperboard packaging and commercial printing products for a variety of end markets.

The Dynos Group has acquired the major assets of the US manufacturer Cheney Pulp and Paper, an important player for the processing of plant fibres on the international market.

FCL is a machinery manufacturer that designs and manufactures industrial machines.

Menasha Packaging Company, LLC, a subsidiary of Menasha Corporation, announced it has finalized the acquisition of Color-Box, a business unit of Georgia-Pacific, LLC. Terms of the transaction were not disclosed.

Cenveo Worldwide Limited announced the successful completion of a management buyout of the business led by Chief Executive Officer, Rob Burton, Jr., President, Mike Burton, Chief Financial Officer, Mark Hiltwein, and Chief Strategy Officer, Ayman Zameli. As a result of the transaction, Cenveo is now 100% owned by its management with the Burton family being the majority shareholder.

Now, as Paper Excellence plans to acquire Resolute, Domtar plans to sell their mills in both Dryden and Espanola to a third-party company due to anticipated regulatory requirements related to the deal, which is expected to close in the first half of 2023, subject to approvals.

Mativ Holdings, Inc. announced the successful completion of the merger of equals between Schweitzer-Mauduit International, Inc. ("SWM") and Neenah, Inc. ("Neenah"), two leading global manufacturers of specialty materials, effective July 6, 2022.

Essity acquires 80% of the Canadian company Knix Wear Inc. ("Knix"), a leading provider of leakproof apparel for periods and incontinence.

The purchase price amounts to AUD 140m (approximately SEK 985m) on a cash and debt free basis.

Private equity firm CVC Capital and wood panel manufacturer Kronospan have submitted a joint expression of interest to acquire Canadian lumber company West Fraser Timber Co, people familiar with the matter said on Tuesday, July 19

UFP Industries announced that its affiliate, PalletOne, Inc., has acquired a 50 percent equity stake in Dempsey Wood Products, LLC. The purchase agreement includes options for PalletOne to purchase the remaining 50 percent of Dempsey after three years.

In addition, this acquisition will expand MM's footprint into the US market with an important position in the East-Coast pharma hub.

Central National Gottesman Inc. (CNG) announced that its North American Distribution Division has acquired Lewis Paper International, Inc., a leading distributor of paper, packaging and wide-format products headquartered in Addison, Illinois.

The two companies have worked diligently to establish contract terms that recognize the value and strengths of their employees and customers, and the sale is targeted to close in early August.

UPM has signed an agreement to sell 100% of the shares of its Austrian subsidiary UPM Kymmene-Austria GmbH to the HEINZEL GROUP, a leading pulp, packaging and paper producer and trader in Central and Eastern Europe.