US – US-based private equity firm Atlas Holdings has completed the acquisition of Crown Paper Group, a North American independent regional containerboard business.
Crown Corrugated Company is an integrated mill and containerboard operation with a strategic presence in the Pacific Northwest and Western Canada.
The acquisition also includes Port Townsend Paper, a company specializing in manufacturing recycled and virgin kraft containerboard, kraft pulp and speciality products in Port Townsend, Washington.
Crown operates an integrated containerboard mill and two converting facilities, namely Crown Packaging and Boxmaster, as well as three company-operated distribution centers.
Atlas co-founder and managing partner Tim Fazio said: “It’s always an exciting day when we can welcome a great paper and packaging company to the Atlas Family of manufacturing, distribution and logistics businesses.
“Atlas planted its roots in paper when we were founded with the purchase of a single corrugated medium mill in Indiana, preserving jobs and transforming operations to lay a strong foundation for future growth.”
Fazio added: “Now, more than two decades later, paper, packaging and allied industries remain an important and growing sector for Atlas.
“We’re thrilled to welcome the Crown team and excited to get to work in building an even stronger company.”
Randy Nebel appointed Chairman of Crown Board of Directors
Meanwhile, Atlas has also appointed paper and packaging industry executive Randy Nebel as the chairman of Crown’s board of directors.
Nebel has extensive experience in the sector, having previously served as President and Chief Executive Officer of Verso Corporation, a leading North American producer of graphic, specialty and packaging paper and market pulp.
He also served as President of Longview Paper & Packaging, a leading manufacturer of high-quality containerboard, corrugated products and other specialty papers.
On his appointment, Nebel said: “I have proudly spent my professional life strengthening and growing paper and packaging businesses and could not be more excited to take on this new role as chairman of Crown Paper.
“Our goal is simple; we will be a superb employer, a trusted steward of our communities and a valued partner for our customers and suppliers.”
For all the latest packaging and printing industry news from Africa and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel, which is updated regularly.