Mergers & Acquisitions

A subsidiary of United States-based International Paper (IP) has filed a notice posted to a Turkish investment oversight agency website indicating it is considering options to sell the stake it holds in Turkey-based Olmuksan International Paper Ambalaj Sanayi ve Ticaret Anonim Şirketi. That company operates containerboard mills and downstream corrugating plants in Turkey.

The sale of Third Dimension, a 29-year-old packaging company, was officially announced to employees and the media during a press conference on Thursday morning, Oct. 1.

UFP Industries announced that its UFP Retail Solutions business segment acquired the equity of Fire Retardant Chemical Technologies, LLC (FRCT).

LSC Communications, Inc. announced that the U.S. Bankruptcy Court for the Southern District of New York (the "Court") has approved its previously announced stock and asset purchase agreement, under which an affiliate of Atlas Holdings LLC ("Atlas"") with the support of certain of LSC's secured creditors (the "Creditor Group"), will acquire substantially all of the Company's assets.

U.S. Senator Tammy Baldwin is urging the Verso Corporation to consider the impact of the sale of its Wisconsin Rapids mill on all the people in North Central Wisconsin, according to a news release.

Boise Cascade Company announced that it has completed the purchase of a new property with building structures in Gallatin, TN.

AMVIG is a Chinese tobacco packager.

A consortium including Bain Capital said on Thursday, Sept. 24 it was offering to buy specialty paper maker Ahlstrom-Munksjo Oyj in a deal valuing the Finnish firm at around 2.1 billion euros ($2.45 billion).

R.R. Donnelley & Sons Company announced that it has signed a definitive agreement to sell its DLS Worldwide Logistics business to TFI International for $225 million in cash, subject to a customary working capital adjustment.

Interfor announced that it has reached an agreement to sell its specialty sawmill located in Gilchrist, Oregon to Neiman Enterprises Inc.

SCA has signed an agreement to acquire forest land in Latvia. The acquisition comprises an area of 19,150 hectares, of which 13,100 is forest land. The purchase price is EUR 44.5m, approximately SEK 450m.

Kimberly-Clark Corporation announced the closing of its previously announced acquisition of Softex Indonesia, a leader in the fast-growing Indonesian personal care market.

CJK Group, Inc. announced that it has acquired content services business Cenveo Publisher Services and Cenveo Learning from Cenveo Worldwide Limited, and will be merging them with its own content business Sheridan Journal Services and hosting platform Sheridan PubFactory to form KnowledgeWorks Global Ltd. (KGL).

Brazilian state development bank BNDES has hired JPMorgan Chase & Co to manage a share offering to sell its 11% stake in pulpmaker Suzano SA, two sources familiar with the matter said.

Kimberly-Clark Corporation announced that it has entered into a definitive agreement to acquire Softex Indonesia, a leader in the fast-growing Indonesian personal care market, in an all-cash transaction for approximately $1.2 billion from a group of shareholders including CVC Capital Partners Asia Pacific IV.

The company is purchasing approximately 85,000 acres of timberlands in mid-coastal Oregon in one transaction, and selling 149,000 acres of timberlands in southern Oregon in a second transaction. The net cost of these two separate transactions is approximately $40 million in cash.

Further to Canfor Corporation's announcement on June 17, 2020, its 70%- owned subsidiary, Vida Group, has completed the purchase of three sawmills located in Sweden from Bergs Timber.

Acorn Pulp Group has agreed to purchase a new state of the art molded fiber manufacturing machine from Southern Moulded Pulp and Moulded Fibre Technologies.

The Austrian binderholz Group purchased all assets of Klausner Lumber One LLC, based in Live Oak, Suwannee County, Florida, in the auction held on Friday, August 21, 2020. At the auction binderholz was able to prevail over Mercer Inc. and Mayr Melnhof Holz and was awarded the contract at $61 million. The transaction is expected to close at the beginning of October 2020.

The Kalispel Tribe of Indians has officially submitted a bid to purchase the shuttered Ponderay Newsprint Co. in Usk, which ceased operations in June and eliminated about 130 jobs.

Mill Rock Capital, a growth and operations oriented private investment firm, announced today that it has created a new platform, Mill Rock Packaging Partners LLC ("Mill Rock Packaging Partners"), to invest in growth oriented companies with advanced service and product capabilities in the specialty packaging industry.

Lancaster, Pa.-based Intellicor Communications purchased the assets of the former Cadmus operations in Lancaster, Pa., and in Hurlock, Md., from Cenveo Worldwide on Aug. 8 -- effectively marking the final chapter for the storied Cadmus Communications name in the printing industry.

Verso says it has entered into an equipment purchase agreement with Halkali Kagit Karton Sanayi ve Tic. A.S., a company organized under the laws of Turkey, whereby Verso agreed to sell, and the purchaser agreed to purchase, certain equipment at Verso's Luke Mill, primarily including two paper machines.

Per the agreement, the Partnership will purchase approximately 17.4 million partnership units from International Paper for $250 million. As a result, Graphic Packaging's ownership interest in the Partnership will increase from approximately 81.1% to 85.5%.

Sonoco announced it has acquired Can Packaging, a privately owned designer and manufacturer of sustainable paper packaging and related manufacturing equipment, based in Habsheim, France, for total consideration of €41.7 million, or approximately $49 million.