DS Smith Plc ("DS Smith"), the leading provider of recycled corrugated packaging in Europe, is pleased to announce the proposed acquisition of the Duropack business ("the acquisition") for approximately €300m (c.£220m). Duropack, a recycled corrugated board packaging business with market-leading positions across South Eastern Europe, is being acquired from CP Group 2 BV, a One Equity Partners subsidiary.Read more
Caraustar on Feb. 19 said it closed the acquisition of The Newark Group after it cleared a US Dept of Justice (DOJ) antitrust review that did not require any divestitures.
Caraustar, owned by private equity firm H.I.G. Capital, announced the merger in July (P&PW, July 11, 2014, p. 1). Market sources told RISI that the DOJ was investigating the merger up until early January. Newark Group is owned by DDJ Capital, an investment company.Read more
Rock-Tenn Co. and MeadWestvaco Corp. have entered into a definitive combination agreement to create a leading global provider of consumer and corrugated packaging ("NewCo") in a transaction with a combined equity value of $16 billion. The combined company, to be named prior to closing, will have combined net sales of $15.7 billion and adjusted EBITDA of $2.9 billion, including the impact of $300 million in estimated annual synergies to be achieved over the next three years.Read more
One of the key elements in the AR Packaging business plan is to expand in profitable segments where the company has a competitive edge. In 2014, the company communicated the commitment of significant funds for strategic investments. In line with these intentions AR Packaging announces the agreement to acquire the European tobacco, chocolate confectionery and consumer apparel packaging operations from MeadWestvaco Corporation.Read more
Menasha Corp. acquires PearceWellwood Inc., Brampton, Ontario. The family-owned business will operate as part of Menasha Packaging Company, LLC, a subsidiary of Menasha Corp. Terms were not disclosed.Read more
Cascades Inc. has reached an agreement for the sale of its North American boxboard manufacturing and converting assets to Graphic Packaging Holding Company for $44.9 million.
The Cascades boxboard units affected by the transaction are:
East Angus, Québec, a mill that manufactures recycled coated boxboard for the production of folding cartons. Founded in 1910, it was purchased by Cascades in 1983.
Reynolds Group Holdings Limited ("Reynolds Group") today announced that it has entered into an agreement to sell its SIG Combibloc business to Onex Corporation for an aggregate amount of up to €3.75 billion, subject to certain adjustments based upon closing date cash and working capital. €3.575 billion will be paid to Reynolds Group at the closing of the transaction, with an additional amount up to the balance of €175 million payable depending on the financial performance of the SIG Combibloc business in 2015 and 2016.Read more