OpenGate Capital Closes Cascades Boxboard Acquisition
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OpenGate Capital, Los Angeles, Calif., USA, reports that it has s closed its acquisition of two boxboard manufacturing subsidiaries of Cascades Inc., Montreal, Que., Canada. The two subsidiaries will operate under the unified brand name, Fusion Paperboard, and will continue conducting business with existing management from its converting facility in Hebron, Ky., and its paperboard mill in Versailles, Conn., USA.
Andrew Nikou, founder and managing partner of OpenGate Capital, said that "this closing marks both a significant addition to our wood and paper portfolio, and an exciting new beginning for Fusion Paperboard. We look forward to working closely with management to enhance its operations, continue its legacy of innovation, and capitalize on growth opportunities in the recycled packaging market."
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