Closing of the acquisition, subject to regulatory review and customary closing conditions, is anticipated later this year. Financial details of the agreement are not being disclosed. Jefferies LLC acted as exclusive financial advisor to SPG Holdings LLC in connection with this transaction.
"SPG has skilled employees, high-quality assets, efficient operations and an excellent customer service model, and will be a significant addition to the Georgia‑Pacific Professional business," said Kathy Walters, who leads Georgia-Pacific's Consumer Products Group that includes the Professional business.
Greg Santaga, CEO of SPG, said, "We have enjoyed many great years with the support of CIC Partners and are looking forward to building upon that success with Georgia‑Pacific. We believe Georgia-Pacific provides the best, long-term option for our employees, our customers and our shareholders. The SPG organization and assets will fit well with the healthy and growing Georgia-Pacific Professional business."
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.
