Bio Pappel, through its subsidiary McKinley Paper Company, on Feb. 4 announced the acquisition of 100% of Midwest Paper Group, a privately held manufacturer and distributor of high quality recycled containerboard and natural kraft packaging grades.
Terms of the deal were not disclosed.
Midwest Paper's corporate headquarters and paper mill are located in Combined Locks, Wisconsin. The company has about 320 employees and operates three paper machines. According to Bio Pappel, the mill has an annual production capacity of 500,000 tons.
Bio Pappel said the acquisition doubles its paper production in the United States and ensures the supply of packaging paper grades for its network of packaging facilities that support the growing e-commerce packaging market.
Miguel Rincon, Chairman of the Board of Bio Pappel, said, "The acquisition of Midwest Paper Group is consistent with our business strategy to continue building a competitive T-MEC paper company, with the conviction that the North American bloc (Mexico-United States-Canada) is the best region to invest and create long-term shared value."
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