Atlas Holdings Acquires Crown Paper Group

The acquisition includes Port Townsend Paper, a manufacturer of high-quality recycled and virgin kraft containerboard, kraft pulp and specialty products located in Port Townsend, Washington.

Oct. 11, 2022 - Atlas Holdings announced today 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 provider of high-quality recycled and virgin kraft containerboard, kraft pulp and specialty products in Port Townsend, Washington. The two converting facilities, known as Crown Packaging and Boxmaster, operate with extensive customer reach and distribution capabilities throughout British Columbia and Alberta.

Atlas also announced the appointment of paper and packaging industry executive Randy Nebel as Chairman of the Crown Board of Directors. Nebel has extensive experience in the sector, having previously served as President and CEO of Verso Corporation (now Billerud), and President of Longview Paper & Packaging (now a WestRock operation).

"It's always an exciting day when we can welcome a great paper and packaging company to the Atlas Family of manufacturing, distribution, and logistics businesses," said Tim Fazio, Co-Founder and Managing Partner of Atlas. "Atlas planted its roots in paper when we were founded with the purchase of a single corrugated medium mill in Indiana, preserving jobs and transforming operations to lay a strong foundation for future growth. Now, more than two decades later, paper, packaging and allied industries remain an important and growing sector for Atlas."

About Crown Paper Group

Crown Paper Group is a leading independent regional containerboard business. Crown operates an integrated containerboard mill, two converting facilities and three company-operated distribution centers, and has a strategic presence in the growing markets of the Pacific Northwest and Western Canada.

SOURCE: Atlas Holdings