Illinois-based Packaging Corp. of America (NYSE: PKG) has announced plans to acquire the assets of Bartholomew County-based Columbus Container Inc. The $100 million cash deal is expected to be complete by the end of the year.
PCA says it will acquire Columbus Container’s full-line corrugated products facility in Columbus, as well as five warehousing facilities and other operations in Indiana and Illinois. The company says the acquisition remains subject to regulatory approval.
"Like previous acquisitions, the addition of Columbus Container is a great strategic fit for PCA," said Tom Hassfurther, executive vice president of PCA. "They have in place an excellent management team that leads a highly skilled and dedicated group of employees and have earned an outstanding reputation in the marketplace."
PCA Chief Executive Officer Mark Kowlzan says the acquisition will "further enhance our operations both geographically and strategically through additional integration and optimization of our warehousing and logistics capabilities." The Republic reports Columbus Container will retain its name and no jobs will be affected by the deal.