Cascades Inc. announced recently that it has completed the previously announced sale of Dopaco Inc., its paper cup and carton converting business for the quick-service restaurant and foodservice industries, to Reynolds Group Holdings Limited for a cash consideration of US$400 million.
Net proceeds from the transaction should amount to approximately US$337 million and will mainly be used to pay down Cascades' debt. In connection with the transaction, Cascades will continue to supply boxboard to Dopaco, through a five year non-exclusive supply agreement.
