Crown Paper Group, Inc. to acquire Port Townsend Paper Mill
Crown Paper Group, Inc. has signed a definitive purchase agreement to acquire Port Townsend Holdings Company, which includes the Port Townsend Paper mill in Port Townsend, WA; the Crown Packaging plant in Vancouver BC; the Boxmaster packaging plant, also in Vancouver; and Distribution Centers in Kelowna, BC, and Calgary, AB. The transaction will close in the next few days.
Crown Paper Group is a holding company created in 2015 for investments in the paper and packaging industries. The executive leaders of Crown Paper Group have worked together in the paper and packaging industry for a century and a half (collectively) building high performance businesses.
Crown Paper Group has the resources to invest in building businesses over the long term. It was created by the investment firm Lindsay Goldberg, which manages $10 billion of equity capital, and is focused on acquiring well managed businesses and actively helping to build long term value. Lindsay Goldberg’s unique long-term horizon, capital base, culture, approach, experience and intellectual resources reinforce its mission of being a partner of choice. For more information about Lindsay Goldberg please visit www.lindsaygoldberg.com.
“We are energized by the opportunity to work with the customers and employees of the Port Townsend Paper mill, Crown Corrugated, and Boxmaster,” said Crown Paper Group CEO Steve Klinger. “We have a track record of engaging employees in involved and productive workplaces, embracing safe work practices, minimizing our environmental footprint, and partnering with the communities in which we operate. We look forward to applying our ‘Best Practices’ and ‘Excellence Always’ principles to exceed customers’ expectations.”