Georgia-Pacific Consumer Products LP is buying SPG Holdings LLC, a paper goods company for the foodservice industry.
SPG manufactures napkins, bags, wipes, tissues, paper towels, deli wraps and liners. The Dallas company—which operates in Green Bay, Wisconsin, as well as Hattiesburg, Mississippi, and Augusta, Georgia—was sold by private equity firm CIC Partners.
Terms of the deal were not disclosed.
Georgia-Pacific says the group should help it better serve its foodservice customers and grow its business. The Atlanta-based buyer manufactures products including bath tissue, paper towels, napkins, tableware, packaging, office papers and specialty fibers.
CIC, also based in Dallas, focuses on invested in middle market food, restaurant, health care and energy companies. The firm invested in SPG in 2011, after it completed a majority recapitalization.
Jefferies LLC acted as SPG's financial adviser on the deal.
Other recent packaging deals include the Carlyle Group's (Nasdaq: CG) deal for Illinois Tools Works Inc.'s packaging group for $3.2 billion, announced in February