Mergers & Acquisitions

Pixelle Specialty Solutions Holding LLC, a leading provider of fiber-based specialty solutions in North America and portfolio company of Lindsay Goldberg, announced that it has signed a definitive agreement to be acquired by an affiliate of H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $48 billion of equity capital under management. Terms of the transaction were not disclosed.

Antalis has signed a binding offer to acquire BB Pack Group in Germany - BB Pack, cr8 Packaging and Printmate. The offer is subject to the satisfaction of customary conditions precedent, including the approval of the German competition authority.

The Mill is located on an approximately 30-acre leased site on the Fraser River in Delta, B.C. The Mill was built in 1963 and was acquired by Interfor in 2001 from Primex Forest Products.

The acquired production lines will increase Mondi's capacity by around 150-180 million bags annually and strengthen Mondi's position in the Egyptian paper bag market.

Peak Renewables Ltd. has acquired the Chetwynd Pulp Mill previously owned and operated by Paper Excellence. The Chetwynd Pulp Mill has not operated since 2015. Peak Renewables will remediate the mill site and repurpose the land and buildings to other industrial uses.

Pactiv Evergreen Inc. announced that its wholly-owned subsidiary, Evergreen Packaging International LLC, completed the previously announced sale of its 50 percent interest in Naturepak Beverage Packaging Co Ltd to affiliates of Elopak ASA. Naturepak Beverage Packaging Co Ltd supplies customers in the Middle East and Africa region from manufacturing plants in Morocco and Saudi Arabia. Financial terms were not disclosed.

Metsä Board announced on 16 December 2021 that it has signed an agreement to sell its entire share capital of its fully owned subsidiary Oy Hangö Stevedoring Ab to Euroports Finland Oy. The arrangement has been completed on 31 March 2022.

Veritiv Corporation, a full-service provider of business-to-business products, services and solutions, announced that it has signed a definitive purchase agreement to sell its Veritiv Canada, Inc. business to Imperial Dade.

Paper Excellence Group is seeking as much as US$400 million from the sale of a British Columbia pulp mill, people with knowledge of the matter said, as it works to satisfy the Canadian competition regulator's requirement for its US$3 billion acquisition of Domtar Corp.

BillerudKorsnäs announces the completion of its acquisition of Verso for a purchase price of approximately USD 825 million in cash. Verso is a leading producer of coated paper in North America, with 2021 net sales of USD 1 278 million and adjusted EBITDA of USD 223 million.

LP Building Solutions announced that it closed on the previously announced sale of its 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc.

Chatham Asset Management, LLC, a leading private investment firm, and R.R. Donnelley & Sons Company announced that they have completed a transaction in which affiliates of Chatham have acquired RRD for $10.85 per share in cash. The acquisition was previously announced on December 14, 2021, and RRD stockholders approved the transaction at the Special Meeting of Stockholders held on February 23, 2022.

Millar Western Forest Products Ltd. has completed the sale of its wood products assets to Canfor Corporation. The transaction included lumber and specialty lumber mills in Whitecourt, Fox Creek and Acheson, Alberta, Canada, and associated woodlands operations and timber holdings.

The mill announced an indefinite curtailment last December, due to ongoing financial losses, and said that around 200 workers would be temporarily laid off until the company decided whether it wanted to continue running the mill in a different capacity or sell it altogether.

Verso and BillerudKorsnäs now expect the merger to close in late-March or April of 2022.

Mondi PLC said that it will sell its personal-care components business to Nitto Denko Corp. for 615 million euros ($699.5 million) as it focuses on expanding its business in packaging.

Bast Fibre Technologies Inc. (BFT), a manufacturer of premium natural fibres, has completed its purchase of Georgia-Pacific's Lumberton Cellulose LLC. The Lumberton, NC site is a highly automated state-of-the-art manufacturing facility with approximately 25 employees that will now operate under the new name of BFT Lumberton.

Stora Enso announced that it has signed a letter of intent to divest the Kvarnsveden site in Sweden to Northvolt. Due to structural decline in demand for graphical paper, in April 2021 Stora Enso announced a plan to close its Kvarnsveden paper production site. Founded in 1900, Kvarnsveden produced pulp and paper for over 120 years until production ended in September 2021.

The transaction is expected to close during the second quarter of 2022, subject to regulatory approvals.

Menasha Packaging Company, LLC, a subsidiary of Menasha Corporation, announces it has signed an agreement to acquire the assets of Color-Box, a business unit of Georgia-Pacific, LLC. Terms of the transaction were not disclosed. The acquisition is expected to close in early summer 2022.

Boralex Inc. announces an agreement for the sale of the 34.5 MW Senneterre power plant in Quebec, Canada. The power plant has been purchased by Resolute Forest Products Canada Inc.

Interfor announced that it has completed the previously announced transaction to acquire 100% of the equity interests of EACOM Timber Corporation from an affiliate of Kelso & Company, effective February 22, 2022.

Upon completion of the transaction, RRD's shares will no longer trade on the New York Stock Exchange, and RRD will become a private company.

Canfor Corp. said it plans to sell its forestry and mill assets in Mackenzie for $70 million.

Kimberly-Clark Corporation, the pioneer of menstrual hygiene products, announced that it has completed its acquisition of a majority stake in Thinx, Inc., an industry disruptor and the leader in reusable period and incontinence underwear category. The company made an initial minority investment in Thinx in 2019.