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Atlas Holdings completes acquisition of Crown Paper Group

Atlas Holdings has completed the acquisition of Crown Paper Group, including Port Townsend Paper Corporation and Crown Corrugated Company.

“Atlas has a long and established track record of investing in the pulp, paper and packaging industries, partnering with exceptional leadership teams to revitalize and strengthen companies for the long term. We’ve invested significant resources and partnered with companies at an inflection point in their journey, and we view Crown as another opportunity to put this experience to work. Today, these companies, including Finch Paper, Iconex, Marcal, Millar Western Forest Products and Twin Rivers Paper Company, are leaders in their markets,” said Atlas partner Sam Astor.

Crown Corrugated Company is an integrated mill and containerboard operation with a strategic presence in the growing markets of the Pacific Northwest and Western Canada. Port Townsend Paper Corporation manufactures 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 has owned and operated businesses that have similar operations and footprints as Crown, including paper mills, packaging manufacturers and wood products leaders with operations in the U.S. and Canada. In each case, these companies have been strong economic engines in their local economies. As such, we bring a unique set of capabilities and relevant experience to our partnership with Randy and the Crown Team,” said Janet O’Neil, senior vice-president at Atlas Holdings.

Atlas has appointed paper and packaging industry executive Randy Nebel as chairman of the Crown board of directors. Nebel has extensive experience in the sector. He previously served as president and CEO of Verso Corporation, a North American producer of graphic, specialty and packaging paper and market pulp. He was also president of Longview Paper & Packaging, a manufacturer of containerboard, corrugated products and other specialty papers.

“I have proudly spent my professional life strengthening and growing paper and packaging businesses and could not be more excited to take on this new role as chairman of Crown Paper,” said Nebel.