RockTenn Completes Tacoma Mill Acquisition
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RockTenn, Norcross, Ga., USA, reports that it has completed its previously announced acquisition of the Tacoma, Wash., mill. "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 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 U.S. West Coast. The transaction was structured as an asset purchase.
RockTenn produces containerboard and paperboard. With 26,000 employees, the company operates facilities in the U.S, Canada, Mexico, Chile, and Argentina.
