Mergers & Acquisitions

Veritiv Corporation, a full-service provider of business-to-business products, services and solutions, announced that it has signed a definitive purchase agreement to sell its Veritiv Canada, Inc. business to Imperial Dade.

Metsä Board announced on 16 December 2021 that it has signed an agreement to sell its entire share capital of its fully owned subsidiary Oy Hangö Stevedoring Ab to Euroports Finland Oy. The arrangement has been completed on 31 March 2022.

Pactiv Evergreen Inc. announced that its wholly-owned subsidiary, Evergreen Packaging International LLC, completed the previously announced sale of its 50 percent interest in Naturepak Beverage Packaging Co Ltd to affiliates of Elopak ASA. Naturepak Beverage Packaging Co Ltd supplies customers in the Middle East and Africa region from manufacturing plants in Morocco and Saudi Arabia. Financial terms were not disclosed.

Peak Renewables Ltd. has acquired the Chetwynd Pulp Mill previously owned and operated by Paper Excellence. The Chetwynd Pulp Mill has not operated since 2015. Peak Renewables will remediate the mill site and repurpose the land and buildings to other industrial uses.

Verso and BillerudKorsnäs now expect the merger to close in late-March or April of 2022.

The mill announced an indefinite curtailment last December, due to ongoing financial losses, and said that around 200 workers would be temporarily laid off until the company decided whether it wanted to continue running the mill in a different capacity or sell it altogether.

Millar Western Forest Products Ltd. has completed the sale of its wood products assets to Canfor Corporation. The transaction included lumber and specialty lumber mills in Whitecourt, Fox Creek and Acheson, Alberta, Canada, and associated woodlands operations and timber holdings.

Chatham Asset Management, LLC, a leading private investment firm, and R.R. Donnelley & Sons Company announced that they have completed a transaction in which affiliates of Chatham have acquired RRD for $10.85 per share in cash. The acquisition was previously announced on December 14, 2021, and RRD stockholders approved the transaction at the Special Meeting of Stockholders held on February 23, 2022.

LP Building Solutions announced that it closed on the previously announced sale of its 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc.

Kimberly-Clark Corporation, the pioneer of menstrual hygiene products, announced that it has completed its acquisition of a majority stake in Thinx, Inc., an industry disruptor and the leader in reusable period and incontinence underwear category. The company made an initial minority investment in Thinx in 2019.

Canfor Corp. said it plans to sell its forestry and mill assets in Mackenzie for $70 million.

Upon completion of the transaction, RRD's shares will no longer trade on the New York Stock Exchange, and RRD will become a private company.

Interfor announced that it has completed the previously announced transaction to acquire 100% of the equity interests of EACOM Timber Corporation from an affiliate of Kelso & Company, effective February 22, 2022.

Boralex Inc. announces an agreement for the sale of the 34.5 MW Senneterre power plant in Quebec, Canada. The power plant has been purchased by Resolute Forest Products Canada Inc.

Menasha Packaging Company, LLC, a subsidiary of Menasha Corporation, announces it has signed an agreement to acquire the assets of Color-Box, a business unit of Georgia-Pacific, LLC. Terms of the transaction were not disclosed. The acquisition is expected to close in early summer 2022.

The transaction is expected to close during the second quarter of 2022, subject to regulatory approvals.

Stora Enso announced that it has signed a letter of intent to divest the Kvarnsveden site in Sweden to Northvolt. Due to structural decline in demand for graphical paper, in April 2021 Stora Enso announced a plan to close its Kvarnsveden paper production site. Founded in 1900, Kvarnsveden produced pulp and paper for over 120 years until production ended in September 2021.

Bast Fibre Technologies Inc. (BFT), a manufacturer of premium natural fibres, has completed its purchase of Georgia-Pacific's Lumberton Cellulose LLC. The Lumberton, NC site is a highly automated state-of-the-art manufacturing facility with approximately 25 employees that will now operate under the new name of BFT Lumberton.

Mondi PLC said that it will sell its personal-care components business to Nitto Denko Corp. for 615 million euros ($699.5 million) as it focuses on expanding its business in packaging.

Resolute Forest Products Inc. announced two separate transactions to grow and improve the competitiveness of its wood products business.

If approved, all Verso stockholders will receive $27.00 per share in cash upon closing of the transaction, representing immediate and certain value at a significant premium.

Midwest Paper Group makes packaging-grade paper at its mill in Combined Locks. The mill has a capacity to produce 500,000 tons per year.

The mystery party had been circling since at least November but has never been named in R.R. Donnelley's public statements.

Nuveen Natural Capital, a globally diversified investment and asset management company specializing in the acquisition and stewardship of forestry assets, completed the sale of 66,800 acres in Texas and Georgia to Rayonier, a leading timberland real estate investment trust. The purchase price, before transaction costs, was $124.2 million.

Essity has acquired the US professional wiping and cleaning company Legacy Converting, Inc.