Mergers & Acquisitions

Sonoco announced it has completed the acquisition of Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, (together TEQ), a global manufacturer of thermoformed packaging serving healthcare, medical device and consumer markets, from ESCO Technologies, Inc. for $187 million in cash.

The three sawmills, with combined production capacity of 550 million board feet, are located in Cross City (Florida), and Glenwood and El Dorado (Arkansas).

The transaction is planned to be completed in the first quarter of 2020.

Weyerhaeuser Company announced an agreement to sell its 630,000 acres of timberland in Montana to a private timberland investment company for $145 million in cash.

Canfor has terminated an arrangement agreement between the company and Jim Pattison's Great Pacific Capital Corporation.

Ahlstrom-Munksjö has completed the sale of its glass fiber reinforcement business in Mikkeli, Finland, to Vitrulan Composites Oy, a fully owned subsidiary of Vitrulan Group and part of the family-owned industrial holding ADCURAM Group.

An attorney for Southern Pine Plantation said the timberland investment company is buying the land and has no plans to change Weyerhaeuser's long-standing practices related to public access, forest management, grazing, existing outfitting agreements and conservation easements.

Forisk Consulting, a leader in North American forest industry and timber market research, has acquired the North American Wood Fiber Review from Wood Resources International of Bothell, Washington.

The annual net sales of the acquired business is approximately EUR 40 million and it employs altogether approximately 460 people.

The expected purchase price is approximately US$93 million.

Central National Gottesman Inc. (CNG), which owns a range of sales and distribution businesses in the global pulp, paper, tissue, packaging, wood products and metals industries, announced that its Spicers Paper division will add Kilmer, Wagner & Wise (KWW) Paper Company to its packaging portfolio.

On 18 June 2019, Tieto Corporation announced an agreement to combine Tieto and EVRY ASA ("EVRY") through a cross-border merger.

TC Transcontinental announced that it has reached a definitive agreement to sell its paper and woven polypropylene packaging operations to Hood Packaging Corporation for a price of US$180 million (about C$239 million) subject to working capital adjustments.

Ahlstrom-Munksjö has signed a non-binding letter of intent with the majority shareholders of Hebei Minglian New Materials Technology Co., Ltd. to acquire the company, comprising a state-of-the-art greenfield decor paper plant in the city of Xingtai, Hebei Province, China.

The Molpus Woodlands Group, LLC (Molpus) has purchased approximately 18,433 acres of timberland in east central Alabama.

TC Transcontinental announced that it has reached a definitive agreement to sell its paper and woven polypropylene packaging operations to Hood Packaging Corporation for a price of US$180 million (about C$239 million) subject to working capital adjustments.

Avery Dennison Corporation announced a definitive agreement to acquire Smartrac's Transponder (RFID Inlay) Division, for the purchase price of €225 million, subject to certain closing and post-closing adjustments.

Sonoco announced it has signed a definitive agreement to acquire Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, (together TEQ), a global manufacturer of thermoformed packaging serving healthcare, medical device and consumer markets, from ESCO Technologies, Inc. for approximately $187 million in cash.

Ahlstrom-Munksjö has agreed to sell its glass fiber reinforcement business in Mikkeli, Finland, to Vitrulan Composites Oy, a fully owned subsidiary of Vitrulan Group and part of the family-owned industrial holding ADCURAM Group.

Weyerhaeuser Company announced the completion of the sale of its Michigan timberlands to Lyme Great Lakes Holding LLC, an affiliate of The Lyme Timber Company LP, for approximately $300 million in cash.

Pixelle Specialty Solutions has signed a definitive purchase agreement to acquire specialty paper mills in Jay ("Androscoggin"), ME and Stevens Point, WI from Verso Corporation.

SIG has reached agreement to acquire Visy Cartons Pty Ltd from VisyPak Operations Pty Ltd, a subsidiary of Pratt Consolidated Holdings Pty Ltd, for AU$70m (US$48.2m), subject to customary conditions being met.

It's unclear how many jobs will be restored when Niagara Worldwide takes over.

The consideration for the transaction, following certain customary adjustments, was approximately $38.6 million.

Sappi Limited announced that all conditions precedent relating to the acquisition of the Matane high yield hardwood pulp mill in Quebec Canada from Rayonier Advanced Materials (RYAM) have been fulfilled and closing has been completed.