Georgia-Pacific said Friday that it has closed its buy of SPG, a specialty paper packaging supplier. No financial terms were disclosed. SPG was backed by CIC Partners. Jefferies served as financial advisor in this transaction.
ATLANTA and DALLAS, Aug. 15, 2014 /PRNewswire/ — Georgia-Pacific LLC and SPG Holdings LLC today completed the previously announced acquisition of SPG by Georgia-Pacific. Financial details of the agreement are not being disclosed.
As a result of the acquisition, Georgia-Pacific acquired all of the equity of SPG held by investors in the company including CIC Partners, a Dallas-based middle market private equity firm that has been the lead investor in the company since 2011.
The acquisition includes SPG’s three manufacturing facilities in Green Bay, Wisconsin; Hattiesburg, Mississippi; and Augusta, Georgia; as well as a sales and administrative office in Dallas. Operated by approximately 500 employees, SPG and its facilities now become a wholly owned subsidiary of Georgia-Pacific in the acquisition. Jefferies LLC acted as the exclusive financial advisor to SPG Holdings LLC in connection with this transaction.
Scott Light, president of Georgia-Pacific Professional, added, “We are very pleased to welcome the talented employees of SPG to our company. They, along with quality assets, efficient operating model and excellent customer service model, provide a great platform for continued growth of our business.”
Based in Atlanta, Georgia-Pacific and its subsidiaries are among the world’s leading manufacturers and marketers of bath tissue, paper towels and napkins, tableware, paper-based packaging, office papers, cellulose, specialty fibers, nonwoven fabrics, building products and related chemicals. Our familiar consumer brands include Quilted Northern®, Angel Soft®, Brawny®, enMotion®, Sparkle®, Mardi Gras® and Vanity Fair®, as well as Dixie®. The company employs approximately 35,000 people directly, and creates nearly 130,000 jobs indirectly. For more information, visit: www.gp.com.
ABOUT SPG HOLDINGS
SPG is a leading specialty paper packaging supplier focused on providing quality products and specialized customer service to the foodservice industry.