Mergers & Acquisitions

Novolex, an industry leader in packaging choice, innovation, and sustainability, announced it has acquired the business of Flexo Converters USA, Inc. and certain of its affiliates. The intention to acquire was originally announced May 17.

Essity has finalized its acquisition of the remaining 63.8% of the shares in the Australian hygiene company Asaleo Care. Essity AustralAsia, which is the name of the regional unit going forward, will be consolidated into Essity's accounts as of July 1st , 2021.

CatchMark Timber Trust, Inc. announced a definitive agreement to sell 18,063 acres of prime Oregon timberlands - known as the Bandon property - for $100 million in cash, or approximately $5,536 per acre, to Roseburg Resources Co.

The Mayr-Melnhof Group ('MM') and a subsidiary of funds managed by Oaktree Capital Management, L.P. ('Oaktree') have reached a firm intention on the sale of MM's virgin fiber cartonboard mills located in Eerbeek, Netherlands, and Baiersbronn, Germany, to Oaktree for an equity value of EUR 104.6 million and net debt subject to final closing accounts.

Nippon Paper Industries Co., Ltd. announced that it has acquired a portion of the issued ordinary share capital of Elopak ASA (President & CEO: Thomas Körmendi, "Elopak"), a Norway-based liquid paper packaging company operating in Europe and North America, as a Cornerstone investor in Elopak's initial public offering on the Oslo Børs.

Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, announced that it will sell its hydroelectric assets on the Presumpscot River in Maine to Dichotomy Power LLC, pending satisfactory completion of regulatory and other approvals. The move is designed to allow Sappi to focus on its core competencies and is consistent with Sappi's recent restructuring of the Westbrook site.

Billionaire Tom Gores' private equity firm Platinum Equity would acquire textbook publishing and educational technology company McGraw Hill for $4.5 billion from Apollo Global Management Inc, the companies said.

The process following the acquisition of the remaining 25% of the shares of ABIGO Medical AB is completed and the company is now a wholly owned subsidiary of Essity. As per the terms of the transaction, ABIGO Medicals pharma business has been divested and sold to the company's founder Jan G. Smith.

DIC Corporation has closed on the acquisition of BASF's global pigments business, known as BASF Colors & Effects (BCE).

Quad/Graphics, Inc. announced that it has sold its QuadExpress third-party logistics (3PL) business for $40 million to Mullen Group Ltd., one of Canada's largest logistics providers. QuadExpress joins Mullen Group's network of independently operated businesses that provide a broad range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized and specialized hauling transportation.

Huhtamaki has completed the acquisition of Jiangsu Hihio-Art Packaging Co. Ltd.'s assets. Jiangsu Hihio-Art Packaging is a privately owned manufacturer of paper bags, wraps and folding carton packaging in China. The acquisition strengthens Huhtamaki's position as the leading foodservice packaging provider in Asia and expands its product portfolio allowing it to better serve both existing and new customers in China.

On June 8, the State Assembly's Committee on State Affairs voted to pass Assembly Bill No. 367 (AB 367), which will provide state assistance to support the purchase of the former Verso paper mill in Wisconsin Rapids.

Prairie Industries, along with its partner company Nu-Pak, announced its new name for the combined organization: Truvant. The announcement coincides with Prairie's recent acquisition of Sonoco's European contract packaging business.

Smurfit Kappa Group, one of the world's largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, is pleased to announce that it has completed the acquisition of Cartones del Pacifico, a leading paper-based packaging company in Peru.

Ennis, Inc. announced its acquisition of the assets and business from AmeriPrint Corporation in Harvard, Illinois. The closing occurred on Monday, May 31, 2021, Memorial Day. AmeriPrint Corporation is a trade printer specializing in custom-printed documents, barcoding, integrated products, and business forms.

Further to the announcement on February 16, 2021, that the hygiene and health company Essity had entered an agreement to acquire the remaining 63.8% of the shares in the Australian hygiene company Asaleo Care, Essity today notes the announcement by Asaleo Care, that the company's shareholders voted in favor of accepting Essity's offer.

International Paper Company has completed the sale of its 90.38% shareholdings interest in Olmuksan International Paper to Mondi Group for roughly €66 million ($81 million). This Olmuksan business includes five corrugated packaging facilities in Turkey, with an annual converting capacity of three hundred thousand tons.

A nonprofit group says it has bought more than 6,150 acres (2,488 hectares) of forest to be kept in conservation in southeast Georgia.

The total purchase price of US$375 MM, which includes working capital, will be funded entirely from cash on hand.

Stora Enso has signed an agreement to divest its Sachsen Mill located in Eilenburg, Germany, to the Swiss-based family-owned company Model Group. Sachsen Mill has an annual production capacity of 310 000 tonnes of newsprint specialty paper based on recycled paper.

Flexo is a manufacturer of stock, custom and recycled paper bags and sacks. It is headquartered and has a manufacturing facility in Meriden, Conn. and an additional plant in Monroe, Ga. Flexo's eligible full-time employees are expected to join Novolex.

Graphic Packaging Holding Company announced the conclusion of its successful partnership with International Paper Company. The final tranche of the membership interests held by International Paper in Graphic Packaging International Partners, LLC (the "Partnership") were exchanged for an equivalent number of shares of Graphic Packaging common stock. As a result, Graphic Packaging now owns 100% of the Partnership.

Dennis Schoeneck, the president of the Timber Professionals Cooperative, said the group has continued talking with Verso about a potential sale of the Rapids mill, although there hasn't been a deal on the table yet.

ST aims to convert the mill to produce tissue paper, instead of the supercalendered paper it has traditionally manufactured. ST Paper had been negotiating to purchase the mill and convert it to tissue paper production at an anticipated cost of about $54 million.

Glatfelter Corporation, a leading global supplier of engineered materials, announced it has completed the previously announced acquisition of Georgia-Pacific's U.S. nonwovens business for $175 million, subject to customary purchase price adjustments.