Cascades Agrees $65.5M Sale of Richmond Corrugated Facility to Crown Paper
The divestment aligns with Cascades’ strategy to optimize its operational footprint and reduce debt by reallocating capital toward core markets.
SEATTLE (Scrap Monster): Cascades Inc. has announced an agreement to sell its corrugated packaging plant in Richmond, British Columbia, to Crown Paper Group for a total transaction value of $65.5 million. The deal includes real estate assets and is subject to customary working capital adjustments and the assumption of certain liabilities. The transaction is expected to close in the coming days, pending standard closing conditions.
The divestment aligns with Cascades’ strategy to optimize its operational footprint and reduce debt by reallocating capital toward core markets. Due to its geographic location, the Richmond facility offered limited operational synergies within Cascades’ network, while fitting well with Crown’s existing regional operations.
Crown Paper Group, which has a long-established presence in British Columbia and operates an integrated containerboard mill in Port Townsend, Washington, views the acquisition as a strategic expansion. The Richmond plant complements Crown’s integrated paper supply chain and enhances its ability to serve customers in the region.
Cascades and Crown will work closely to ensure a smooth transition for employees, customers, and suppliers.
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