Mergers & Acquisitions

The Paper Excellence Group, a global diversified manufacturer of pulp and specialty, printing, writing, and packaging papers, announced its subsidiary, Domtar Inc., has entered into an agreement with an affiliate of Kruger Specialty Papers Holding L.P. to sell its Kamloops pulp mill for an undisclosed amount.

Iconex, the world's leading provider of highly differentiated label solutions and low-cost paper receipts, announced the acquisition of Liberty Greenleaf. Founded over three decades ago, Liberty Greenleaf is one of the premier manufacturers of point-of-sale (POS) and industrial packaging solutions, with operations in Phoenix, Arizona and Morristown, Tennessee.

UFP Industries announced that its affiliate, Deckorators, Inc., acquired Cedar Poly LLC, for $17 million. The purchase price includes incentive payments of up to $1.5 million over three years if Cedar Poly meets certain performance goals.

UPM had permanently ceased production and agreed a social plan for its employees at its Chapelle mill in Grand-Couronne, France already in June 2020.

Stora Enso invests in ACDF Industrie SAS and becomes a 35% shareholder of the French wood processing company. The investment is in line with Stora Enso's growth strategy for mass timber building elements, enabling value-added, bespoke CLT (cross-laminated timber) solutions to its long-term French partners.

Atlas Packaging, based in Barnstaple, North Devon, is a corrugated packaging provider with a strong market presence in shelf ready packaging, gift boxing and the e-commerce sector.

This acquisition was made for investment purposes and builds upon, and is complementary to, Interfor's recent expansion into Eastern Canada through the acquisition of EACOM Timber Corporation in February 2022.

Veritiv Corporation, a full-service provider of business-to-business products, services, and solutions, announced that it has completed the sale of its Veritiv Canada, Inc. business to Imperial Dade. Effective today, Veritiv's approximately 900 employees in Canada are now employees of Imperial Dade.

Ox Industries acquires a 150,000 square foot facility in Hanover, PA to expand its converting capacity in the Mid-Atlantic Region. The facility will house next-generation equipment and manufacturing practices and expand just in time stocking products and services.

Rayonier Advanced Materials Inc. announced that it has sold 28,684,433 common shares of GreenFirst Forest Products Inc. to a wholly-owned subsidiary of Interfor Corporation for approximately $43.3 million. The agreement contains a Purchase Price Protection clause whereby the Company is entitled to participate in further stock price appreciation under certain circumstances and for a specified period.

Weyerhaeuser Company announced an agreement to purchase 80,800 acres of high-quality timberlands in North and South Carolina from a fund managed by Campbell Global for approximately $265 million.

Domtar has agreed to transfer ownership of the land to NCC for $7 million below its appraised value as a part of this partnership.

Apollo announced that funds managed by Apollo affiliates have completed the acquisition of a majority stake in Novolex Holdings LLC, a leading global manufacturer of diverse and sustainable packaging products for the foodservice, delivery and carryout, food processor and industrial markets, from funds managed by Carlyle. Carlyle will retain a minority stake in the Company.

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.

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.

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.

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.

The Mayr-Melnhof Group (MM) acquired 100% of the shares in Eson Pac, headquartered in Veddige, Sweden, from the majority shareholder Nalka Invest AB as well as family and management minority shareholders.

Rengo has acquired 100% of the shares issued by Nagai Tekko Co., Ltd., making Nagai Tekko a Rengo subsidiary.

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.

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.

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.

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.

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.

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.