Atlas Holdings Acquires Crown Paper Group
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Atlas Holdings announced that it has completed the acquisition of Crown Paper Group (“Crown”), including Port Townsend Paper Corporation and Crown Corrugated Company, an integrated mill and containerboard operation with a strategic presence in the growing markets of the Pacific Northwest and Western Canada. Terms of the transaction were not disclosed.
Port Townsend Paper Corporation is a leading provider of high-quality recycled and virgin kraft containerboard, kraft pulp and specialty products in Port Townsend, Washington. The two converting facilities, known as Crown Packaging and Boxmaster, operate with extensive customer reach and distribution capabilities throughout British Columbia and Alberta.
Atlas also announced the appointment of paper and packaging industry executive Randy Nebel as Chairman of the Crown Board of Directors. Nebel has extensive experience in the sector, having previously served as President and Chief Executive Officer of Verso Corporation (NYSE: VRS), a leading North American producer of graphic, specialty and packaging paper and market pulp, and President of Longview Paper & Packaging, a leading manufacturer of high-quality containerboard, corrugated products and other specialty papers.
“It’s always an exciting day when we can welcome a great paper and packaging company to the Atlas Family of manufacturing, distribution, and logistics businesses. Atlas planted its roots in paper when we were founded with the purchase of a single corrugated medium mill in Indiana, preserving jobs and transforming operations to lay a strong foundation for future growth. Now, more than two decades later, paper, packaging and allied industries remain an important and growing sector for Atlas. We’re thrilled to welcome the Crown team and excited to get to work in building an even stronger company,” said Atlas Co-Founder and Managing Partner Tim Fazio.
“Atlas has a long and established track record of investing in the pulp, paper and packaging industries, partnering with exceptional leadership teams to revitalize and strengthen companies for the long term. We’ve invested significant resources and partnered with companies at an inflection point in their journey, and we view Crown as another opportunity to put this experience to work. Today, these companies, including Finch Paper, Iconex, Marcal, Millar Western Forest Products and Twin Rivers Paper Company, are leaders in their markets,” added Atlas Partner Sam Astor.
“Atlas has owned and operated businesses that have similar operations and footprints as Crown, including paper mills, packaging manufacturers and wood products leaders with operations in the U.S. and Canada. In each case, these companies have been strong economic engines in their local economies. As such, we bring a unique set of capabilities and relevant experience to our partnership with Randy and the Crown Team,” said Janet O’Neil, Senior Vice President at Atlas Holdings.
“I have proudly spent my professional life strengthening and growing paper and packaging businesses and could not be more excited to take on this new role as Chairman of Crown Paper. Our goal is simple; we will be a superb employer, a trusted steward of our communities and a valued partner for our customers and suppliers,” said Randy Nebel, Chairman of the Crown Board of Directors.
