Boise, Idaho, USA, 01 December 2011 -- Boise Inc. (NYSE: BZ) today announced that it has completed the acquisition of the Hexacomb protective packaging business of Pregis Corporation. Hexacomb is a leader in kraft paper-based honeycomb protective packaging and operates 12 manufacturing facilities across six countries.
"We are pleased to complete this acquisition and welcome Hexacomb employees to Boise,” said Alexander Toeldte, president and chief executive officer of Boise Inc. “Hexacomb expands our position in the protectuve packaging market, provides a platford for further growth, steps up our vertical integration within our containerboard business, and delivers syngeries with limited executive risk."
In 2010, Hexacomb had revenues of USD 102 million and converted approximately 60,000 tons of containerboard. The USD 125 million transaction was financed through cash on hand.
Headquartered in Boise, Idaho. Boise Inc. (NYSE: BZ) manufactures a wide variety of paper and packaging products, including imaging papers for the office and home, printing and converting papers, and papers used in packaging, such as label and release and flexible packaging papers. Boise's range of packaging products includes linerboard and corrugating medium, corrugated containers and sheets, and protective packaging products. Boise employees are committed to delivering excellent value while managing the company's businesses to sustain environmental resources for future generations.