US-based manufacturer of packaging products Boise has announced the planned acquisition of the Hexacomb protective packaging business, Pregis, for $125m.
Boise president and CEO Alexander Toeldte said the acquisition provides an opportunity to expand in packaging markets and that Hexacomb provides a substantial step up in vertical integration within the company’s existing packaging business.
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Boise hopes to close the transaction by the end of 2011 or early 2012.
Hexacomb, a provider of kraft paper-based honeycomb protective packaging products reported revenues of $102m and converted about 60,000t of containerboard in 2010.
