RockTenn has completed the previously announced acquisition of the Tacoma mill. RockTenn acquired the mill for approximately $343 million including working capital adjustments. The purchase price reflects an EBITDA multiple of less than six times based on the mill's financial results for the 12 months ending March 2014 and the expected operating efficiencies, primarily due to the location of the mill on the West Coast.
ByLesprom Network
May 19, 2014. /Lesprom Network/. RockTenn has completed the previously announced acquisition of the Tacoma mill. RockTenn
acquired the mill for approximately $343 million including working capital
adjustments, as the company said in the press release received by Lesprom
Network.
The purchase price reflects an EBITDA multiple of less than six times
based on the mill's financial results for the 12 months ending March 2014 and
the expected operating efficiencies, primarily due to the location of the mill
on the West Coast. The transaction was structured as an asset purchase.
"The acquisition of the Tacoma Mill improves our ability to satisfy
West Coast customers while generating significant operating efficiencies across
our system," said Steve Voorhees, RockTenn's CEO.
RockTenn is one of North America's leading
providers of packaging solutions and manufacturers of containerboard and
paperboard. The company operates locations in the United States, Canada, Mexico, Chile and Argentina.
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