Mergers & Acquisitions

The combination brings together two high quality timberland REITs resulting in PotlatchDeltic owning nearly 2.2 million acres of diversified timberlands, including 626,000 acres in Idaho and over 1.5 million acres in strengthening markets in the U.S. South

Sylvamo, the world's paper company, is announcing it agreed to acquire Stora Enso's uncoated freesheet paper mill in Nymolla, Sweden, for 150 million euros (approximately $150 million) expected to be funded in cash, subject to customary purchase price adjustments. The agreement includes the mill, the strong brands it produces and the people who make it happen.

CatchMark Timber Trust, Inc. announced that, at the special meeting of stockholders (the "Special Meeting") held this month, its stockholders approved the merger of CatchMark with and into a wholly owned subsidiary of PotlatchDeltic Corporation, pursuant to the terms of the Agreement and Plan of Merger, dated as of May 29, 2022.

Stora Enso said it would sell its Maxau paper production site in Germany to Schwarz Group, the owner of discount supermarket chains Lidl GB and Kaufland.

Action Wood Solutions, established to purchase the business assets of Action Wood Technologies, Inc. in Michigan, has entered into an asset purchase agreement with the owners of Action Wood Technologies, Inc. The closing of this transaction will be dependent on the Committee on Foreign Investment in the United States (CFIUS) accepting the transaction.

Stora Enso Oyj said it has acquired Dutch corrugated packaging producer De Jong Packaging Group in a deal worth around 1.02 billion euros ($1.02 billion).

Huhtamaki has sold its operations in Russia to Espetina Ltd. Espetina is a holding company owned by Alexander Govor and Iury Kushnerov. The transaction includes four manufacturing units in Russia, employing 724 people. The Siberian businessman Alexander Govor recently bought the McDonald's former restaurants in Russia.

Western Forest Products Inc. announced its wholly owned subsidiary, WFP Engineered Products LLC, has completed the acquisition of certain assets of Calvert Company, Inc. located in Washington State.

UPM Raflatac has completed the acquisition of AMC AG (Advanced Methods of Coating). The acquisition announced in May 2022 was closed on 15 September 2022 after regulatory clearances.

Corrugated Case Holdings Limited has an operating subsidiary, The Corrugated Case Company Limited, which has a factory in central England (Chesterfield) where it conducts manufacturing and sales of high-value-added corrugated boxes.

Sonoco, a diversified global packaging leader, announced the appointment of Shawn Munday as the Vice President of Global Mergers and Acquisitions, reporting to Chief Financial Officer, Rob Dillard. Shawn will lead business development strategies, mergers and acquisitions (M&A), divestitures, and other strategic investment partnerships and activities on behalf of the Company.

The WestRock Paper Mill ceased operations on June 6th. It was once considered a staple in the Panama City community for almost 100 years. It employed hundreds of workers but now the mill sits empty.

Amcor announced that it will be selling its three factories in Russia. This announcement is in line with its previous statement regarding scaling down activities and exploring strategic options for its Russia operations.

Ennis Inc. announced its acquisition of certain assets including customer lists and intellectual property of Gulf Business Forms, in San Marcos, TX. Gulf Business Forms is a trade printer specializing in custom-printed documents including business forms, laser cut sheets, brochures, pamphlets, in-line glue booklet, and variable short-run solutions.

Mondi Plc, a British packaging and paper company, said it has agreed to acquire the Duino mill near Trieste in Italy from the Burgo Group for a total consideration of 40 million euros.

Essity has finalized the acquisitions of the Canadian company Knix Wear Inc. ("Knix") and the Australian company Modibodi, both leading providers of leakproof apparel for periods and incontinence. With these acquisitions, Essity will become the global market leader within leakproof apparel*, the fastest growing product segment in Intimate Hygiene which includes Feminine Care and Incontinence Products.

Palm Paper is a market leading distributor of foodservice and janitorial sanitation products.

Hood Container Corporation announced that it has acquired the corrugated packaging business of Walker, MI based Kentwood Packaging Inc. The transaction includes all of Kentwood's design, manufacturing, assembly, and fulfillment operations in Walker, including its membership in Great Lakes Wax Coatings, LLC.

Pactiv Evergreen Inc. announced that its wholly-owned subsidiary, Evergreen Packaging International LLC, has completed the previously announced sale of its carton packaging and filling machinery businesses in China, Korea and Taiwan to SIG Group Ltd.

Chilean packaging and sanitary products manufacturer CMPC agreed to buy Mexican tissue firm Grupo P.I. Mabe for $293 million, according to a filing to the stock exchange.

Mondi Group has agreed to sell its Russian Syktyvkar plant to Augment Investments Limited owned by Russian billionaire Viktor Kharitonin for 95 billion rubles ($1.5 billion).

Tetra Pak will be exiting its remaining operations in Russia. This is due to the cumulative impact of the restrictions on exports to Russia leading to an unsustainable supply chain, as a result of which the company is left with no other option than to exit the country.

WestRock Company announced that it has entered into an agreement to acquire the remaining interest in Grupo Gondi for $970 million, plus the assumption of debt, representing an estimated implied enterprise value of $1.763 billion.

Boise Cascade Company announced that it has completed the previously announced acquisition of Coastal Plywood Company and its manufacturing operations in Havana, Florida, and Chapman, Alabama.

The aggregate purchase price is €270 million (approx. $275.4 million), inclusive of forecasted net working capital of approximately €43 million (approx. $43.9 million).