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Sun Capital buys US paperboard mills

The Boca Raton-based private investment firm has acquired two coated-recycled board mills in Pennsylvania and Indiana from a subsidiary of the Graphic Packaging Holding Company.

Sun Capital Partners has purchased two coated-recycled board (CRB) mills located in Philadelphia and Wabash, Indiana. Financial terms of the deal were not disclosed.

The mills were acquired from Graphic Packaging International, a subsidiary of Graphic Packaging Holding Company, and produce coated-recycled paperboard used for converting folding cartons in the US. The two mills produce around 300,000 tons of clay-coated recycled paperboard a year and will make up the “largest independent CRB mill group in the US” following the deal, a statement from the firm said.

This is not the first real estate-related deal this year for the Boca Raton, Florida-based private investment firm. In May, Sun Capital Partners firm acquired the Toronto-based Timothy’s Coffees of the World retail chain, which operates 166 stores mostly located in Ontario. In January, the firm also acquired the Smokey Bones Barbeque and Grill retail unit of Darden Restaurants.