Boise Completes Hexacomb Acquisition
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Boise Inc., Bose, Idaho, USA, has completed its acquisition of the Hexacomb protective packaging business of Pregis Corp. Hexacomb is a producer of kraft paper-based honeycomb protective packaging and operates 12 manufacturing facilities across six countries.
"We are pleased to complete this acquisition and welcome Hexacomb employees to Boise," said Alexander Toeldte, president and CEO of Boise. "Hexacomb expands our position in the protective packaging market, provides a platform for further growth, steps up our vertical integration within our containerboard business, and delivers synergies with limited execution risk."
In 2010, Hexacomb had revenues of $102 million and converted approximately 60,000 tons of containerboard. The $125 million transaction was financed through cash on hand.
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