Last week it was announced that International Paper sold three mills that had been part of a pre-condition imposed by the US Justice Department in order for IP to acquire the assets of Temple-Inland. One of the mills, in New Johnsonville, Tennessee, was acquired by Hood Companies. The other two, in California were acquired by a new joint venture, appropriately called New-Indy Containerboard, LLC, which is a newly formed joint venture of the Kraft Group and Schwartz Partners, LP.
Hood Companies is based in Hattiesburg, Mississippi, and owns Atlas Roofing, as well as Hood Packaging and Hood Industries. You can learn more about them at http://www.hoodcompanies.com.
Schwartz Partners is very well known in the box business. Likewise, Kraft Group, which is more famously known as the owners of the New England Patriots football team.
Just when you thought consolidation was all that the future held, along comes some others to mix it up. An extremely interesting development.
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