LONDON — SCA has delivered a binding offer to acquire Georgia-Pacific''s European tissue operations, according to a press release.
SCA, based in Stockholm, said the Georgia-Pacific unit it would be combined with its own consumer operations, the release stated.
"The deal is a strategic fit and will strengthen our product offering and geographic reach in Europe. It also leads to substantial synergies," said Jan Johansson, president and chief executive officer (CEO) of SCA.
According to the release, Georgia-Pacific has a well-established presence in Europe in both away-from-home and consumer tissue products.
The transaction will be subject to customary consultation with employee representatives and will also be subject to approval by relevant competition authorities, the release noted.
Click here to read the complete release.