Equity Firm Acquires MeadWestvaco Papers
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STAMFORD, CT—Investment firm Cerberus Capital Management has reached a definitive agreement to acquire MeadWestvaco's papers business and associated assets for $2.3 billion.
As part of the deal, the Cerberus-led company will acquire mills located in five states, with a combined annual capacity of approximately 2.05 million tons of coated paper, 290,000 tons of carbonless paper and 110,000 tons of uncoated paper. The sale also includes 900,000 acres of forestlands in six states that serve these mills.
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