Georgia-Pacific Completes Acquisition of Fort James
With completion of its exchange offer for Fort James last week and filing of a merger agreement today, Georgia-Pacific will begin operating and integrating the acquired company immediately under the Georgia-Pacific name.
A.D. “Pete” Correll, Georgia-Pacific chairman and CEO said the Fort James acquisition was a significant component of Georgia-Pacific's ongoing transformation strategy, which includes the previously announced separation of its timberlands and divestiture of selected commodity and non-strategic businesses going forward.
The addition of Fort James' well-known brands and operations, together with the strengths of the fast-growing tissue business already operated by Georgia-Pacific, extends the company's reach into attractive consumer markets. Familiar North American consumer name brands produced by these companies include Quilted Northern, Brawny, Soft 'N Gentle, Angel Soft, Sparkle, Coronet, Mardi Gras, So-Dri, Green Forest, Vanity Fair and Dixie. Combined revenues exceeded $24.8 billion last year and employees total more than 85,000 worldwide.