SCA (New Brighton, Penn.)has signed an agreement for the sale of its North American packaging operations. The purchaser is Metalmark Capital (Stockholm, Sweden) and the purchase price amounts to $400 million. The North American operations have annual sales of approximately $430 million. The transaction is expected to be completed during the first quarter of 2007. The purchase price will be paid in cash.
The sold operations comprise protective packaging, consumer packaging and temperature-assurance packaging solutions. The operations have a total of approximately 2,100 employees. The operations account for approximately 10% of SCA’s total sales within its business area, packaging. This transaction will provide full coverage for the carrying amount of goodwill and other book values.
Closing of the transaction is subject to receipt of American regulatory approvals and satisfaction of other customary closing conditions.