Georgia-Pacific and an affiliate of TJC, L.P. (TJC) announced September 8 that they have reached an agreement under which Georgia-Pacific would purchase Anchor Packaging, a leading manufacturer of rigid food containers and cling film for the foodservice, retail, and processor channels.
Anchor Packaging is headquartered in St. Louis, Missouri, and has operations in Arkansas and Wisconsin. Since 2019, Anchor Packaging has been a portfolio company of TJC (formerly known as The Jordan Company), a New York City-based private equity firm.
Closing of the acquisition, subject to regulatory review and customary closing conditions, is anticipated later this year. Financial details of the agreement are not being disclosed.
“Anchor Packaging will be a significant addition to Georgia-Pacific’s consumer products platform with capabilities that will especially complement our Dixie® business,” said David Duncan, executive vice president of Georgia-Pacific’s Consumer Products Group. “Anchor’s talented teams are committed to understanding customer needs and delivering innovative and differentiated solutions to support the needs of the growing food-to-go market.”
“We are excited to join Georgia-Pacific and embark on a new chapter of growth and innovation,” said Jeff Wolff, president and chief executive officer of Anchor Packaging. “This partnership allows us to expand our product portfolio, strengthen our supply chain and accelerate our commitment to innovation. We look forward to delivering even greater value to our customers and stakeholders.”
“This is a major step in building a platform for growth,” said Fernando González, president of Dixie. “Adding Anchor Packaging to Georgia-Pacific’s portfolio aligns perfectly with our vision to be a preferred partner in providing innovative food and beverage packaging and tableware solutions to our customers. We are excited to welcome the Anchor Packaging team to Georgia-Pacific.”
Anchor Packaging was advised by RBC Capital Markets and Goldman Sachs, and Georgia-Pacific was advised by Nomura Securities International, Inc., in this transaction.
