Packaging Corporation of America is growing its US containerboard business by adding two mills and eight sheet feeder and corrugated plants from Greif.
US packaging manufacturer Greif completed the announced sale of its containerboard business to Packaging Corporation of America at the start of September. The transaction comprises two corrugated case material mills with a total capacity of 725,000 tpy, as well as eight sheet feeder and corrugated plants, all located in the United States.
According to PCA, the containerboard business acquired from Greif had annual sales of $1.2bn, generating Ebitda of $212m.
The two companies had entered into a definitive purchase and sale agreement in late June. PCA put the purchase price for Greif's conatinerboard business at $1.8bn in cash.
