Manchester was previously owned by the full-service packaging company PaperWorks, which creates packaging for a number of industries including personal care and oral care.
Clearwater bought Manchester to further expand its small packages business. “Manchester Industries offers an excellent range of converting services that include custom sheeting, slitting, and cutting,” Linda Massman, president and CEO of Clearwater Paper, comments in a press release about the deal.
“These five plants are expected to be a valuable asset for Clearwater Paper as we look to extend our reach and service platform to the small and mid-sized folding carton plants,” she explains. “On behalf of Clearwater Paper, we welcome Manchester Industries employees to our team,” adds Massman.
Far and wide
Manchester Industries operates production facilities in not only Richmond, Virginia, but also Wilkes-Barre, Pennsylvania; Hagerstown, Indiana; Dallas, Texas; and Mendon, Michigan. These facilities and their outputs are expected to add value to Manchester Industries right away, according to Clearwater. That company’s press release notes, “Clearwater Paper believes the acquisition will be immediately accretive.”
Clearwater paid $68.25m for the Manchester Industries business, a business which at present employs about 170 people full time.
Meanwhile
Clearwater operates a number of paperboard and chip or fiber making facilities, but none in the states where Manchester Industries had facilities. Clearwater makes paperboard in Cypress Bend, Arkansas, and Lewiston, Idaho. The company’s corporate headquarters are out west, in Spokane, Washington, while its sales and export offices are in California and Illinois.