G-P Accepts SCA Offer to Acquire its European Tissue Operations
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Georgia-Pacific, Atlanta, Ga., USA, has accepted SCA's (Stockholm, Sweden) binding offer to acquire G-P's European tissue operations, following consultations with appropriate works councils. The process will continue towards finalizing the acquisition, including approvals by relevant competition authorities and further local consultations processes. As a result, a sales and purchase agreement has been signed by both parties.
SCA had announced this past November 10 that it has made the binding offer to acquire G-P's European tissue operations. G-P has a well-established presence in Europe in both Away-from-Home (AFH) and consumer (At-Home) tissue products. The company's products are in particular marketed with the well-known Lutus brand.
G-P's European tissue operations have approximately 5,000 employees and 15 production sites in seven countries. Sales in 2010 amounted to EUR 1.25 billion (SEK 11.9 billion).
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