Packaging Corp. acquires container firm for $2bn
The two companies had combined sales of nearly $6bn for the fiscal year ending June 30, 2013. The newly formed firm will continue to provide cartons, display cases, protective packaging and other items to food companies and retailers.
With the acquisition, PCA’s containerboard capacity will rise to 3.7m tons, up from its current level of 2.6m tons (an increase of 42%). Additionally, planned expansion at Boise’s DeRidder, Louisiana mill will boost the new company’s capacity of corrugated packaging products by about 30% overall.
Headquartered in Lake Forest, Illinois, PCA is the fourth largest corrugated packaging producer in the US. Its 2012 sales were nearly $3bn USD.