Georgia-Pacific’s $1.5 billion deal for Buckeye Technologies Inc. closed today.

Buckeye, headquartered in Memphis, Tenn., manufactures specialty fibers and nonwoven materials from wood and cotton. The products are used from absorption, hygiene products, tissues and baby wipes.

The transaction was announced on April 24

Atlanta-based Georgia-Pacific makes tissue, packaging, paper, pulp, building products and related chemicals. The company is owned by Koch Industries Inc. The purchase price includes Buckeye’s debt, which Georgia-Pacific will assume.

Dechert LLP was counsel to Buckeye on the deal. 

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