Packaging products manufacturer Packaging Corporation of America (PKG - Free Report) has completed the acquisition of corrugated products producer, Columbus Container, Inc. for $100 million. The buyout is a strategic fit for Packaging Corporation and is expected to be immediately accretive to earnings.
Packaging Corporation has acquired a full-line corrugated products business located in Columbus, IN along with five warehousing facilities and other connected units located in Indiana and Illinois. The acquisition is anticipated to increase containerboard production by over 30,000 tons.
On Aug 29, Packaging Corporation completed the acquisition of TimBar Corporation for $386 million, in cash. The transaction was funded through a five-year term loan facility. This acquisition is estimated to increase containerboard integration by over 200,000 tons or 6% from its previous level of 87%. Further, the transaction allowed further optimization and enhancement of its mill capacity and was accretive with immediate effect.
PACKAGING CORP Price
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Packaging products manufacturer Packaging Corporation of America (PKG - Free Report) has completed the acquisition of corrugated products producer, Columbus Container, Inc. for $100 million. The buyout is a strategic fit for Packaging Corporation and is expected to be immediately accretive to earnings.
Packaging Corporation has acquired a full-line corrugated products business located in Columbus, IN along with five warehousing facilities and other connected units located in Indiana and Illinois. The acquisition is anticipated to increase containerboard production by over 30,000 tons.
On Aug 29, Packaging Corporation completed the acquisition of TimBar Corporation for $386 million, in cash. The transaction was funded through a five-year term loan facility. This acquisition is estimated to increase containerboard integration by over 200,000 tons or 6% from its previous level of 87%. Further, the transaction allowed further optimization and enhancement of its mill capacity and was accretive with immediate effect.
PACKAGING CORP Price
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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