Illinois-based PCA to buy Boise, owner of DeRidder mill - KPLC 7 News, Lake Charles, Louisiana

Illinois-based PCA plans to buy Boise, owner of DeRidder mill

Posted: Updated:
(Source: Boise) (Source: Boise)
  • More Local NewsLocalMore>>

  • Two people arrested after Sulphur hotel shooting

    Two people arrested after Sulphur hotel shooting

    Two people arrested after Sulphur hotel shooting

    Monday, July 28 2014 12:33 AM EDT2014-07-28 04:33:32 GMT
    Two people were arrested Saturday night in connection to a hotel shooting in Sulphur, one of whom was injured. According to Lake Charles police it's connected to a drive-by shooting that occurred on Friday afternoon.More >>
    Two people were arrested Saturday night in connection to a hotel shooting in Sulphur, one of whom was injured. According to Lake Charles police it's connected to a drive-by shooting that occurred on Friday afternoon. More >>
  • McNeese connects students to businesses in Southwest Louisiana

    McNeese connects students to businesses in Southwest Louisiana

    Sunday, July 27 2014 8:30 PM EDT2014-07-28 00:30:29 GMT
    (Source: MGN Online)(Source: MGN Online)
    McNeese State University is proving its connecting students to big business in Southwest Louisiana thanks to a grant from the Economic Development Administration of the U.S. Department of Commerce. The grant funds the second year of a five-year grant awarded to McNesse in 2013. University faculty said the grant will help solve local workforce issues through innovation. “The question people ask all the time is what is ...More >>
    McNeese State University is proving its connecting students to big business in Southwest Louisiana thanks to a grant from the Economic Development Administration of the U.S. Department of Commerce. The grant funds the second year of a five-year grant awarded to McNesse in 2013. University faculty said the grant will help solve local workforce issues through innovation. “The question people ask all the time is what is ...More >>
  • Major Police presence outside Super 8 Hotel in Sulphur

    Major Police presence outside Super 8 Hotel in Sulphur

    Saturday, July 26 2014 11:58 PM EDT2014-07-27 03:58:20 GMT
    Several witnesses told us they heard what they thought were gunshots just before 9 o'clock. Shortly after, several Super 8 Hotel guests were told to evacuate. At least one person was taken away by ambulance, according to witnesses. There is no word on their injuries. More >>
    Several witnesses told us they heard what they thought were gunshots just before 9 o'clock. Shortly after, several Super 8 Hotel guests were told to evacuate. At least one person was taken away by ambulance, according to witnesses. There is no word on their injuries. More >>
DERIDDER, LA (KPLC) -

Packaging Corporation of America plans to buy Boise, which owns and operates a DeRidder mill, according to a news release from Packaging Corporation of America (PCA).

PCA, based in Illinois, and Boise entered into an agreement last month.

The sale price is around $1.9 billion.

"PCA will acquire all of the outstanding common shares of Boise for $12.55 per share in cash, for an aggregate transaction value of $1.995 billion, inclusive of $714 million of outstanding indebtedness of Boise," the release states.

Officials say the transaction is expected to close in the fourth quarter of 2013, "with committed debt financing, but is subject to certain customary conditions and regulatory approvals."

"PCA's containerboard capacity will increase to 3.7 million tons from its current level of 2.6 million tons (a 42% increase) including the announced expansion of paper machine number 2 (D2) at Boise's DeRidder mill. PCA's corrugated products volume will increase by about 30% as a result of the acquisition, and PCA's market presence will expand into the Pacific Northwest," the release continues.

Copyright 2013 KPLC. All rights reserved.

Powered by WorldNow