Boise Inc yesterday announced its board of directors has approved an agreement under which Boise will acquire the Hexacomb protective packaging business of Pregis Corporation. Boise expects the $125 million all-cash transaction to close by year end 2011 or early 2012.
Hexacomb is a leader in kraft paper-based honeycomb protective packaging products and employs approximately 440 employees at 12 manufacturing facilities across six countries. In 2010, Hexacomb had revenues of $102 million and converted approximately 60,000 tons of containerboard.
