Atlas Holdings announced on Wednesday that it has completed the acquisition of Crown Paper Group, including Port Townsend Paper Corporation and Crown Corrugated Company, an integrated mill and containerboard operation in the Pacific Northwest and Western Canada.
Terms of the transaction were not disclosed.
Port Townsend Paper Corporation is a leading supplier of recycled and virgin kraft containerboard, kraft pulp and specialty products in Port Townsend.
Atlas also announced the appointment of paper and packaging industry executive Randy Nebel as Chairman of Crown’s Board of Directors. Nebel previously served as President and CEO of Verso Corporation, a leading North American producer of graphic, specialty and packaging paper and market pulp, and President of Longview Paper & Packaging, a leading manufacturer of containerboard. high quality, corrugated products and other specialty papers.
“It’s always an exciting day when we can welcome a major paper and packaging company to the Atlas family of manufacturing, distribution and logistics companies,” said Tim Fazio, co-founder and managing partner of Atlas. .
“Atlas had its roots in paper when we were founded with the purchase of a single corrugated mill in Indiana, preserving jobs and transforming operations to lay a solid foundation for future growth. today, more than two decades later, the paper, packaging and related industries remain an important and growing sector for Atlas.We are delighted to welcome the Crown team and excited to get to work. to build an even stronger business,” added Fazio.
Company executives pointed to their history of reinvesting in factories.
“Atlas has a long history of investing in the pulp, paper and packaging industries, partnering with exceptional management teams to revitalize and strengthen businesses for the long term. We have invested significant resources and partnered with companies at an inflection point in their journey, and we see Crown as another opportunity to build on that experience. Today, these companies, including Finch Paper, Iconex, Marcal, Millar Western Forest Products and Twin Rivers Paper Company, are leaders in their markets,” added the Atlas partner. Sam Aster.
On his city’s website, Louisville, Mississippi Mayor Will Hill talks about how the company has helped his city.
“When this terrible storm hit us and others would surely have gone, Atlas not only stayed, but doubled down. When the enormous challenges of reconstruction became clear, they continued. When they talk about job creation , it’s not a slogan. It’s real. They recognize that what they do really helps create a new beginning for hundreds of families…families that I know personally here in Louisville.
The group also highlighted its knowledge of operations similar to those at the Port Townsend plant.
“Atlas owns and operates businesses that have similar operations and footprints to Crown, including paper mills, packaging manufacturers and wood products leaders with operations in the United States and Canada. In each case, these companies have been powerful economic engines in their local economies,” said Janet O’Neil, senior vice president of Atlas Holdings.