Suzano to Acquire Pine Bluff Paper Mill and Waynesville Extrusion Facility From Pactiv

Cleary Gottlieb is representing Suzano S.A. (Suzano) in its entry into a definitive agreement with Pactiv Evergreen Inc. (Pactiv) for the purchase of Pactiv’s paper mill in Pine Bluff, Arkansas and extrusion facility in Waynesville, North Carolina for a purchase price of $110 million in cash, subject to customary adjustments.

In addition, the parties have agreed to enter into a long-term supply agreement, which will be effective upon the closing of the transaction.

The transaction signed on July 12, 2024, and is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions, including regulatory approvals.

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 foodservice and food merchandising products and fresh beverage cartons in North America.

For more information, please see the press release here.