Georgia-Pacific, an American manufacturer of tissue, pulp, paper, packaging, building products and related chemicals, has completed the acquisition of paper packaging company SPG Holdings for an undisclosed amount.
The deal covers SPG's three manufacturing facilities in Hattiesburg, Mississippi; Green Bay, Wisconsin; and Augusta, Georgia; which will now be part of Georgia-Pacific's portfolio.
Besides acquiring the complete equity stake in these three facilities, including the one held by Dallas-based CIC Partners, Georgia-Pacific has also acquired SPG's sales and administrative office in Dallas.
Commenting on the deal, Georgia-Pacific Professional president Scott Light said: "We are very pleased to welcome the talented employees of SPG to our company. They, along with quality assets, efficient operating model and excellent customer service model, provide a great platform for continued growth of our business."
SPG, which employs close to 500 employees, will now become a wholly owned subsidiary of Georgia-Pacific. The transaction was handled by Jefferies who acted as the exclusive financial advisor to SPG Holdings.
Headquartered in Atlanta, Georgia-Pacific has invested close to $11bn in its nationwide operations for expansion of existing facilities, acquisitions and improvement of safety and environmental performance or delivery.
The company employs about 35,000 people worldwide and deals with the manufacturing and marketing of tissue, packaging, paper, cellulose and related chemicals.
