Packaging Corporation of America to Acquire Boise Inc.
Boise corporate umbrella includes its Hexacomb and Falconboard brands.
Packaging Corporation of America (PCA), the producer of packaging and containerboard solutions, has entered into an agreement to acquire Boise Inc., the Idaho-based packaging-products and paper manufacturer whose divisions include Hexacomb (which makes Falconboard), Boise, and Tharco. The transaction is expected to close Q4 2013.
“This acquisition allows us to apply our operating and sales expertise across a much larger system and provides significant growth potential,” says Mark Kowlzan, PCA CEO. “We look forward to working with the employees of Boise as we integrate our businesses. I am confident, that together, we will achieve significant operating benefits.”
Boise’s Hexacomb division is headquartered in Buffalo Grove, Illinois. Its Falconboard Print is a paper-based, recyclable product coupled with a white printing surface; it’s UV- and inkjet-compatible.
“PCA’s desire to acquire Boise is a testament to the performance delivered and dedication shown by our employees in our five years as a public company, and the value we have created in a very challenging economic environment,” says Boise CEO Alexander Toeldte. “We have been committed to serving our customers with distinction and this transaction will enhance opportunities for even stronger customer service.”
PACKAGING CORPORATION OF AMERICA