Atlas Holdings Acquires Crown Paper

The deal includes Port Townsend Paper and Crown Corrugated.

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GREENWICH, Conn. — Atlas Holdings announced Thursday that it has completed the acquisition of Crown Paper Group, including Port Townsend Paper Corporation and Crown Corrugated Company, an integrated mill and containerboard operation with a strategic presence in the growing markets of the Pacific Northwest and Western Canada.

Terms of the transaction were not disclosed.

Port Townsend Paper Corporation is a leading provider of high-quality recycled and virgin kraft containerboard, kraft pulp and specialty products in Port Townsend, Washington. The two converting facilities, known as Crown Packaging and Boxmaster, operate with extensive customer reach and distribution capabilities throughout British Columbia and Alberta. 

Atlas also announced the appointment of paper and packaging industry executive Randy Nebel as chairman of the Crown board of directors. Nebel has extensive experience in the sector, previously serving as president and CEO of Verso Corporation, a leading North American producer of graphic, specialty and packaging paper and market pulp, and president of Longview Paper & Packaging, a leading manufacturer of high-quality containerboard, corrugated products and other specialty papers.

"It's always an exciting day when we can welcome a great paper and packaging company to the Atlas Family of manufacturing, distribution and logistics businesses," said Atlas co-founder and managing partner Tim Fazio. "Atlas planted its roots in paper when we were founded with the purchase of a single corrugated medium mill in Indiana, preserving jobs and transforming operations to lay a strong foundation for future growth. Now, more than two decades later, paper, packaging and allied industries remain an important and growing sector for Atlas. We're thrilled to welcome the Crown team and excited to get to work in building an even stronger company."

"I have proudly spent my professional life strengthening and growing paper and packaging businesses and could not be more excited to take on this new role as chairman of Crown Paper. Our goal is simple; we will be a superb employer, a trusted steward of our communities and a valued partner for our customers and suppliers," Nebel said.

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