Mergers & Acquisitions

Transaction Represents 86th Acquisition for Leading Distributor of Foodservice Packaging and Janitorial Sanitation Products

The Indian tissue market is expanding rapidly, driven by consumers' evolving perceptions of hygiene and personal care, Suneel Kulkarni of APRIL said.

Following this transaction, Metsä Group no longer holds any assets in Russia, the company said in a statement. The terms of the deal, including the purchase price, remain confidential between the parties.

Saica Group has reached an agreement with the family owners of LIC Packaging to increase its participation, becoming the major shareholder of the company. LIC Packaging is located in the province of Brescia, in Lombardy, northern Italy. This plant has a revenue of 120 million euros in 2023 and provide direct employment to 351 people. The Bertoldo family will remain in the management of the business.

"There is no formal document or celebration of any agreement, binding or otherwise, by Suzano, nor any decision or resolution of its management bodies regarding the potential operation reported by the media," the company said in a filing.

The company insists it is also focused on completing its previously announced combination with DS Smith, which offers a unique and highly compelling opportunity to create significant shareholder value above its base plan.

Brazilian pulp and paper company Suzano has approached U.S.-based International Paper to express interest in an all-cash acquisition that would be worth almost $15 billion, according to people familiar with the matter.

Clearwater Paper Corporation announced the successful completion of its strategic acquisition of the Augusta, Georgia bleached paperboard manufacturing facility from Graphic Packaging International, LLC. Terms of the acquisition were first announced on February 20, 2024.

Nine Dragons, Inc. (ND Paper) and Billerud Wisconsin LLC (Billerud) closed on an Asset Purchase Agreement, whereas ND Paper will own and operate Billerud's Wisconsin Water Quality Center (WQC) and associated landfill and F&E landfill assets.

Canfor Corp. says it has signed a deal with an affiliate of Domtar Corp. to buy its El Dorado lumber manufacturing facility in Arkansas for US$73 million.

Transaction further advances Twin Rivers' focus on core specialty papers business.

Mondi will not make an offer to buy DS Smith, it said on Friday, bowing out of the battle after its UK peer agreed to a 5.8 billion pound ($7.21 billion) deal with International Paper earlier this week.

Plans call for debt restructuring; bids due in June.

West Fraser Timber Co. Ltd. announced that the Company has completed the sale of its Quesnel River Pulp mill, and its Slave Lake Pulp mill to an affiliate of a fund managed by Atlas Holdings following completion of customary regulatory reviews and satisfaction of customary closing conditions.

At the time of closing, the cash provided included the previously disclosed transaction amount of $538 million, an additional $38 million as a ticking fee to reimburse the seller for Greif's profits, standard adjustments for debt and cash, and the effect of foreign exchange rates.

Veritiv Corporation, a leading specialty distributor of value-added packaging, facility solutions and print products and solutions, announced that it has acquired substantially all the assets of Ameripac, LLC, and Ameripac Pennsylvania, LLC ("AmeriPac") a leading provider of turnkey contract packaging and fulfillment services with annual revenues of approximately $60 million.

Expected to Achieve Significant Synergies of At Least $514 Million

In a landmark decision, the European Commission has given the green light to the proposed merger between Smurfit Kappa Group plc, headquartered in Ireland, and WestRock Company from the United States. The approval paves the way for the creation of a global packaging powerhouse, dubbed Smurfit WestRock, with a comprehensive reach across continents.

International Paper and its advisers are hoping to reach an agreement on a recommended offer by the end of this week.

Kimberly-Clark will sell its personal protective equipment business to Ansell for US$640 million in cash, agreeing to a deal that the Australian company's chief executive said had been under consideration for years.

DS Smith PLC on Thursday said that an extension had been agreed for its potential takeover by Mondi PLC, though the company still holds a more lucrative offer from International Paper.

DS Smith has completed acquisition of packaging company, Bosis doo. With the acquisition of Bosis doo, DS Smith's total packaging operations in Eastern Europe will comprise 30 box plants and additional facilities, employing more than 7,000 people in the region.

The Tlowitsis, We Wai Kai, Wei Wai Kum and K'ómoks First Nations (the "Nations," all member First Nations of the Nanwakolas Council), and Western Forest Products Inc. ("Western") announced the completion of the previously announced agreement for the Nations to acquire a 34% interest from Western in a newly formed Limited Partnership for $35.9 million.

The cash funded at closing consisted of the previously announced transaction value of $538 million, plus $38 million for a ticking fee that compensates the seller for earnings that inure to Greif, other customary debt/cash adjustment items, and FX impact.

The proposal comes less than three weeks after DS Smith reached an in-principle agreement with its UK-listed rival Mondi, which made an all-share takeover offer valuing DS Smith at 5.14 billion pounds.