Boise to sell paper, forestry, timberland assets
July 26, 2004 By Pulp & Paper Canada
Boise Cascade Corporation is set to sell its paper, forest products and timberland assets for approximately $3.7 bi…
Boise Cascade Corporation is set to sell its paper, forest products and timberland assets for approximately $3.7 billion to affiliates of Boise Cascade. L.L.C., a new company formed by Madison Dearborn Partners LLC, is a private equity firm located in Chicago, Illinois.
Upon the completion of the transaction, expected by mid-November 2004, Boise Cascade Corporation will change its company and trade name to OfficeMax Inc. It will continue to operate its office products distribution business as its principal business. Through debt retirement and repurchases, OfficeMax anticipates reducing its debt to between $250 and $300 million. Its corporate headquarters will be located in Itasca, Illinois.
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