Evergreen Packaging’s Pine Bluff mill will soon have new owners.
A Brazilian company Suzano S.A. has announced plans to purchase the mil, as well as an extrusion facility in North Carolina from Pactiv Evergreen in a deal worth $110 million.
According to a press release from Suzano, the deal affects 850 total employees at the two plants, and Suzano has committed to offering employment to the current workforce at both plants.
In addition, the two companies have agreed to a log-term supply arrangement.
The Pine Bluff mill produces liquid packaging boards and cupstock which are essential for creating beverage cartons and other food and beverage packaging.
The deal is expected to close in the fourth quarter of this year.
