Mergers & Acquisitions

The closure is expected to impact 55 employees.

Sonoco Products Company announced that certain of its subsidiaries entered into a definitive agreement to sell its Protective Solutions business to Black Diamond Capital Management, LLC ("Black Diamond") for an estimated $80 million in cash.

The new owners plan to sell certain mill assets that are no longer usable on the property. An auction is scheduled for May 7-10, 2024.

The mill has the capacity to produce around 250,000 tonnes of pulp per annum and will provide the Group with access to local, high-quality fibre from a well-established wood basket as part of a long-term partnership with West Fraser.

The Quzhou-based paper mill, located in Zhejiang province, is a world leader in the production of translucent papers for applications ranging from industrial design and graphics to food, consumer electronics and luxury packaging.

Atlas Holdings has entered into a definitive agreement to sell RedBuilt, LLC to Hampton Lumber Mills, Inc. The transaction is anticipated to close in the Q1 2024, subject to customary closing conditions. Terms were not disclosed.

Hood Container Corporation announced that it has acquired the corrugated packaging business of Sumter, SC based Sumter Packaging Corporation. This includes all of Sumter's design, manufacturing, assembly and fulfillment operations in Sumter, SC as well as the business manufactured and serviced from the Statesville, NC facility.

The property is adjacent to Kimberly-Clark's Beech Island facility, which began production in 1968, three years after the company revealed its plan to purchase an industrial site in Aiken.

At 2:30 p.m. Wednesday, Dec. 3, employees at ST Paper's Duluth plant were informed of a likely pending sale of the facility to Sofidel, a privately-held Italian multinational company that ranks as the world's seventh-largest manufacturer of tissue paper.

UPM Steyrermühl was founded in 1868 and produced newsprint paper until the end of Q2 2023. Production capacity during the last years was 320,000 tonnes annually. The site also includes a sawmill with an annual timber capacity of 370,000 cubic meters.

The Western Reserve Port Authority approved the sale of former steel mill property in the Warren and Howland area to the Kimberly-Clark Corporation, which plans to build something there.

Overall, Primestone believes the Westrock transaction "risks deteriorating SKG's business profile" by creating a higher-cost, less integrated company whilst "increasing leverage for modest financial benefits for SKG's shareholders."

Following the announcement of the Napi mill closure in June this year, Stora Enso has systematically ceased all ongoing operations at the site.

Kronospan announced the closing of its purchase of Roseburg's Simsboro, Louisiana, particleboard facility following the expiration of the required regulatory review period. Ownership of the plant has been transferred from Roseburg Forest Products to Kronospan.

Chilean industrial conglomerate Empresas Copec announced on Wednesday that it has agreed to sell some of its forestry businesses to Brazilian pulp and paper company Klabin in a deal worth some $1.16 billion.

Rayonier Inc. announced the completion of its previously announced disposition of 55,000 acres of timberland in Oregon to Manulife Investment Management on behalf of clients for $242 million (~$4,400 per acre), subject to customary prorations and closing costs.

On Friday, his business group Royal Golden Eagle (RGE), unveiled an offer to take over Vinda International Holdings by buying shares in the Hong Kong-listed tissue maker at a premium price. Major shareholders of the company, Swedish personal care product maker Essity AB and Vinda's founder Li Chao Wang, who represent about 72.63% combined ownership in the company, have agreed to the offer.

Saica Group has reached an agreement to acquire the total shares of the waste management and collection company, Ecovidal-Miguel Vidal e Hijos. Through this acquisition, Saica Natur strengthens its presence in the Henares corridor, an important business, industrial and residential area in the north-east of Madrid region.

Rengo announces that its consolidated subsidiary, Sanyo Jidosha Unso Co., Ltd., has acquired 100% of the shares issued by OASIS Inc. and OASIS EXPRESS Inc., making OASIS Group a Rengo subsidiary.

UFP Global Holdings Ltd., a subsidiary of UFP Industries, Inc. (UFPI), has acquired the remaining ownership interests in each of two affiliates in Mexico: NORPAL S. de R.L. de C.V. and TIBASA Universal Forest Products S. de R.L. de C.V.

Global packaging leader Sonoco is pleased to announce the expansion of its flexible packaging service operations with the acquisition of Inapel Embalagens Ltda. in Brazil.

Veritiv Becomes Privately Held Company

Purchase and sale agreements with Forest Investment Associates set to increase cash flow and optimize portfolio value

The net impact of the transaction on Mativ's debt is expected to be a reduction of more than $600 million, which equates to approximately 35% of Mativ's outstanding debt balance as of the end of the third quarter, and is subject to customary post-closing adjustments.

As required by the Takeovers Code in Hong Kong, Essity has today confirmed that discussions are ongoing with a number of interested parties in respect of a potential transaction regarding Essity owned shares in Vinda. No decisions relating to the future ownership of Essity's Vinda shares have been made. Vinda has made a public announcement as required by local laws.