RockTenn Completes Acquisition of Tacoma Mill in Washington

In 2013, the Tacoma Mill produced 465,000 tons on two paper machines and two pulp dryers that made various paper grades including containerboard, specialty kraft paper and pulp.

May 16, 2014 - RockTenn today announced that it has completed the previously announced acquisition of the Tacoma Mill.

"The acquisition of the Tacoma Mill improves our ability to satisfy West Coast customers while generating significant operating efficiencies across our system," said Steve Voorhees, RockTenn's Chief Executive Officer.

RockTenn acquired the mill for approximately $343 million including working capital adjustments. The purchase price reflects an EBITDA multiple of less than six times based on the mill's financial results for the 12 months ending March 2014 and the expected operating efficiencies, primarily due to the location of the mill on the West Coast. The transaction was structured as an asset purchase.

RockTenn is one of North America's leading providers of packaging solutions and manufacturers of containerboard and paperboard. The company operates locations in the United States, Canada, Mexico, Chile and Argentina. To learn more, please visit: www.rocktenn.com

SOURCE: RockTenn