Georgia-Pacific LLC purchased the containerboard mill in Brewton, AL, from Smurfit-Stone Container Corp. for $355 million, or about $414 per square foot. Smurfit-Stone announced it expects to take a pretax loss of $100 million on the sale.
The approximately 857,380-square-foot plant went under contract Aug. 8, 2007, and closed on Sept. 28, 2007. It was an all-cash and arms-length sale, according to SEC filings.
The mill has an annual production capacity of 300,000 tons of white-top linerboard and 190,000 tons of solid bleached sulfate.
Georgia-Pacific, a unit of Koch Industries Inc., is an Atlanta, GA-based manufacturer of tissue, pulp, paper, packaging, building products and related chemicals. It currently has approximately 300 manufacturing facilities across the Americas and Europe.
Smurfit-Stone Container Corp. is an Illinois-based manufacturer of integrated paperboard and paper-based packaging. It currently has approximately 180 facilities located primarily in the U.S., Canada and Mexico.
Please refer to CoStar COMPS #1405380 for more information on this transaction.