There is a new acquisition hitting the news wire in the corrugate world. PCA is preparing to buy out Boise Packaging in a transaction worth just shy of $2,000,000,000. Lots of zeros in this sale. This includes the debt on Boise’s books – which totals over $700,000,000.
This deal will add more than 30% capacity to both their containerboard and corrugate divisions.
Combined the two companies have sales figures totaling over $5,500,000,000. Great news for the state of Illinois considering PCA’s main hub is just outside of Chicago in Lake Forest, IL.
As an FYI, PCA’s stock is soaring, and a great boat to jump on if you are looking to invest into our industry.
~Source: Yahoo Finance