Mergers & Acquisitions

Rengo Co., Ltd. announces that its consolidated subsidiary, Tri-Wall Limited, has acquired a 100% stake in Gestora Comercial Internacional，S.L.U. (Gecoinsa), through Tri-Wall's wholly owned subsidiary.

Rayonier Advanced Materials Inc. announced that it has engaged Houlihan Lokey as its financial advisor to explore the potential sale of its paperboard and high-yield pulp assets located at its Temiscaming site.

Ennis, Inc., is pleased to announce its acquisition of Eagle Graphics, Inc. from Annville, PA and Diamond Graphics, Inc. from Bensalem, PA.

A move by RGE could add a new dimension to the bidding for Essity AB's 52% stake in Vinda, which has drawn bidders such as Suzano SA, the world's largest producer of hardwood pulp from Brazil. Buyout firms Bain Capital, CVC Capital Partners and DCP Capital also advanced in the process, it was reported in August.

Greif, Inc. announced that it has entered into exclusive negotiations to acquire I PACKCHEM Group SAS, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of SK Capital Partners, in a cash transaction valued at $538 million.

Rengo Co., Ltd. announces that major subsidiaries in the folding carton business, Fuji-Hoso Shiki Co., Ltd. and Marufuku Co., Ltd. will be merged on October 1, 2023, and their trade name will be changed to Fuji-Marufuku Co., Ltd.

Boise Cascade has completed the previously announced acquisition of Brockway-Smith Company (BROSCO), a leading wholesale distributor specializing in doors and millwork.

With a single operating location in Winnipeg, Canada, Reliance's operations are strategically located to serve the primary agriculture markets in North America. Reliance products utilize a unique in-mold fluorination barrier (IMF) process which provides a compelling additional capability to the Greif portfolio of barrier technologies.

Accursia Capital now operates the Stenay plant under a new brand, Stenpa. The Company, which will be renamed to Stenpa SAS produces specialty paper and has an annual capacity of 55,000 tonnes.

Mondi has received RUB 57 billion ($568 million) into its London bank account and it is in possession of a letter of credit for the final RUB 23 billion ($229 million), which will be paid in two equal instalments in each of November and December 2023.

Pixelle employs six people to maintain operations and oversee decommission activities. The company is selling the paper machines and the related equipment.

Norske Skog has completed a transaction for the sale of the Tasman mill industrial site and remaining mill assets to the Australasian pulp, paper, and packaging group Oji Fibre Solutions.

UFP Global Holdings Ltd., a subsidiary of UFP Industries, Inc., has acquired 80% of the equity in a newly formed company, UFP Palets y Embalajes SL, for approximately $52 million.

International Paper announced that it has completed the sale of its 50% interest in Ilim SA, the holding company for its Ilim joint venture (JV), to its JV partners for $484MM (USD) in cash.

Mondi plc announces that it has entered into an agreement to sell its last remaining facility in Russia, Joint Stock Company Mondi Syktyvkar, together with two affiliated entities to Sezar Invest LLC for a total cash consideration of RUB 80 billion (Euro 775 million) to be paid in a series of instalments.

West Fraser Timber is shedding two of its pulp mills located in the provinces of British Columbia and Alberta for $120 million as it doubles down on its wood building products focus.

Vida AB, owned 70% by Canfor Corporation, will acquire a 50 million board feet sawmill from Ingarp Träskydd for 50 million SEK (CAD$6.0 million). The sawmill has the potential for expansion to 100 million board feet and the transaction is expected to close on October 3, 2023.

The transaction represents the 70th acquisition for Imperial Dade under the leadership of Robert and Jason Tillis, Chairman and CEO of Imperial Dade, respectively. Financial terms of the private transaction were not disclosed.

The purchase price for this acquisition was $330 million.

Smurfit Kappa and WestRock to combine, creating Smurfit WestRock, a global leader in sustainable packaging with unparalleled scale, quality, product and geographic diversity.

Etteplan and Stora Enso have made an agreement on Stora Enso's Sunila pulp mill Technology and Investments department transfer to Etteplan. The agreement covers the transfer of 10 Stora Enso project managers and engineers to Etteplan as of September 18, 2023. The transfer is related to Stora Enso's decision to close the production of pulp at Sunila Mill in Kotka, Finland by the end of 2023.

Prinzhorn Group's Hamburger Recycling has signed a contract covering the takeover of the Italian recycling company Eurocart, together with its affiliated company Berica Recuperi. The recovered paper specialist located in Vicenza operates with three logistic centers, 130 employees and has the capacity to collect and process 239,000 tons of paper for recycling and other secondary raw materials annually.

Hong Kong-based tissue and diaper maker Vinda International held management presentations in the last week for potential buyers of a majority stake owned by Sweden's Essity, three people with knowledge of the matter said.

Ahlstrom has entered into an agreement to divest its Stenay plant in France to Accursia Capital, following the announcement of Accursia Capital's binding offer in July. The divestment was confirmed after receiving endorsement from the site's employee representatives. The transaction is expected to be completed by the end of September.

Ostrest GmbH to assume ownership effective August 15, 2023 with site to remain fully operational.