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Graphic Packaging to Sell Augusta Paperboard Facility to Clearwater Paper

The transaction value is approximately $700 million, based on adjusted EBITDA of approximately $100 million.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Graphic Packaging Holding Company and Clearwater Paper Corporation announced that Graphic Packaging has signed a definitive agreement to sell its Augusta, GA bleached paperboard manufacturing facility to Clearwater Paper. The transaction value is approximately $700 million, based on adjusted EBITDA of approximately $100 million.

“Augusta is an outstanding asset with a great team, which we concluded is a more compelling fit with Clearwater Paper’s strategic growth plans than our own. Bleached paperboard plays a major role in sustainable consumer packaging, and we will continue to service growing foodservice and packaging demand with bleached paperboard from our Texarkana facility,” said Michael Doss, president and CEO of Graphic Packaging.

“Augusta is a great fit with our strategy and improves our position as a premier, independent paperboard supplier to North American converters,“ Clearwater Paper CEO Arsen Kitch added. “I look forward to welcoming the Augusta team to Clearwater Paper as we work together to build a more scaled paperboard business to service our customers.”

The transaction is subject to regulatory approvals and is currently expected to close in the second quarter of 2024. 

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