Graphic Packaging Holding Company to Sell Augusta Paperboard Manufacturing Facility to Clearwater Paper Corporation

PRNewswire (02/20/24)

Graphic Packaging Holding Co. recently signed a definitive agreement to sell its Augusta, Georgia, bleached paperboard manufacturing facility to Clearwater Paper Corp. The transaction's value is around $700 million. Graphic Packaging President and CEO Michael Doss comments, "Augusta is an outstanding asset with a great team, which we concluded is a more compelling fit with Clearwater Paper's strategic growth plans than our own. Bleached paperboard plays a major role in sustainable consumer packaging, and we will continue to service growing foodservice and packaging demand with bleached paperboard from our Texarkana facility." The deal, which is subject to regulatory approvals, is on track to close by the end of June.

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