The European Commission has approved SCA's acquisition of Georgia-Pacific's European tissue business. The purchase price amounts to EUR 1.32 billion on a debt free basis. The operations have approximately 4,700 employees.
The acquisition confirms SCA’s position as a European leader in the industry with an enhanced, integrated European tissue business and well-known brands.
Georgia-Pacific’s European tissue business, which comprises of 15 plants located in seven countries and the well-known Lotus brand, will be transferred to SCA´s ownership in connection with the closing of the deal which is expected 20 July.
EU's clearance requires divestment of Georgia-Pacific´s consumer tissue business in the UK including production capacity, Georgia-Pacific´s Benelux consumer tissue branded business under the Lotus brand and some of Georgia-Pacific´s and SCA`s retailer branded business in Scandinavia including production capacity.