Brazil’s Suzano Is Buying Pactiv Mill in $110 Million Deal (2)

Suzano SA has agreed to acquire Pactiv Evergreen Inc.’s Pine Bluff mill in Arkansas for $110 million in cash as the Brazilian pulp-making giant seeks to tap into the US packaging sector.

The transaction, which also includes an extrusion facility in Waynesville, North Carolina, is expected to close in the fourth quarter, according to a statement confirming an earlier report by Bloomberg News.

The purchase of the Pine Bluff mill, which produces the packaging board used in paper cups, comes weeks after Suzano abandoned its pursuit of US paper giant International Paper Co. That transaction would have enabled Suzano, the ...