Brazil’s Suzano has announced the acquisition of industrial assets from Pactiv Evergreen in America.
The move will expand the company’s operations in North America and marks its entrance into the consumer and food service packaging segments in the region.
The $110m transaction includes two mills in Pine Bluff, Arkansas, and Waynesville, North Carolina, that manufacture liquid packaging board and cupstock.
Subject to final regulatory approval expected later this year, these assets will add approximately 420,000 metric tonnes annually of integrated paperboard to Suzano’s production capacity.
Alongside the acquisition, Suzano has signed a long-term supply deal with Pactiv Evergreen to provide liquid packaging board for its converting business.
Fabio Almeida, Executive Vice President of Paper and Packaging at Suzano, said: “This acquisition is in line with our strategy.
“We are entering the North American market as a competitive producer of paperboard, taking on quality assets that are strategically well-located from an operational and logistical perspective, and opening new opportunities for growth.
“As a business with 100 years of history behind us, we see this deal as an investment into our future.”
The completion of the transaction is subject to verification of customary conditions, including the approval by a foreign antitrust authority.
