- May 14, 2006, pffc-online.com
CHICAGO, IL—Smurfit-Stone Container Corp. has entered into a definitive agreement to sell the assets of its consumer packaging segment to a company formed by Texas Pacific Group (TPG) for approximately $1.04 billion in cash. The transaction is expected to complete by the end of the second quarter. The businesses to be sold employ approximately 6,600 employees and include:
- Four coated recycled boxboard mills.
- Thirty-nine consumer packaging converting operations in the United States, including folding carton, multiwall and specialty bag, flexible packaging, label, contract packaging, and lamination businesses.
- One consumer packaging converting plant in Brampton, OH.
For more information, visit smurfit-stone.com.