Pulp giant Suzano has agreed to acquire two facilities in the US from Pactive Evergreen. Through the acquisition Suzano will expand its manufacturing operations to the US and enter the consumer and food service packaging segments in the region.
Brazilian pulp and paper manufacturer Suzano plans to take over two facilities in the US from Pactiv Evergreen. The company has signed an agreement to acquire the two Pine Bluff and Waynesville mills from Pactiv Evergreen. These will be Suzano’s first two manufacturing sites in the USA where it currently only operates an office. Pactiv Evergreen put the transaction price at $110m in cash. The transaction is scheduled to be finalised in the fourth quarter of 2024.
The Pine Bluff mill in the US state of Arkansas produces produces liquid packaging board and cupstock used to make fresh beverage cartons, paper cups and other fibre-based food and beverage packaging. The Waynesville site is located in North Carolina and is an extrusion facility for the board produced at Pine Bluff. The two companies have also agreed to enter into a long-term supply arrangement at the closing of the transaction pursuant to which Suzano would use Pine Bluff and Waynesville to supply liquid packaging board to Pactiv Evergreen’s converting business.
Pactiv Evergreen produces and distributes fresh food and beverage packaging in North America. The company operates 51 manufacturing facilities and employs 14,000 people.
Suzano is the world’s largest pulp producer and also a manufacturer of fine paper, specialty paper, paperboard and tissue products. Only recently, the group had considered a takeover of packaging giant International Paper but had finally backed away from a possible acquisition.
