Suzano Completes Acquisition of Pine Bluff Paper Mill and Waynesville Extrusion Facility From Pactiv Evergreen

Cleary Gottlieb represented Suzano S.A. (Suzano) in the purchase of a paper mill in Pine Bluff, Arkansas and extrusion facility in Waynesville, North Carolina, for a purchase price of $110 million in cash, from Pactiv Evergreen Inc. (Pactiv).

In addition, the parties have entered into a long-term supply agreement, pursuant to which Suzano has agreed to use the mill and extrusion facility to supply liquid packaging board, cupstock, and other products to Pactiv.

The transaction signed on July 12, 2024, and closed on October 1, 2024.

Suzano is a global paper and pulp producer and one of Latin America’s largest paper manufacturers. This transaction provides Suzano with a long-term strategic opportunity to advance through the value chain in the North American paperboard market.

Pactiv is a leading manufacturer and distributor of fresh food service and food merchandising products and fresh beverage cartons in North America.

For more information, please see the press release here.