- Business
- Packaging Corporation of America manufactures and sells containerboard, corrugated packaging products, and uncoated freesheet paper primarily in the United States. The company operates through Packaging, Paper, and Corporate and Other segments; the Packaging segment produces conventional shipping containers, multi-color boxes and displays, honeycomb protective packaging, point-of-purchase displays, and custom corrugated solutions for industries including food and beverage, consumer goods, e-commerce, industrial products, meat, fresh produce, and beverages; the Paper segment manufactures communication papers, pressure-sensitive papers, and containerboard; additional services encompass design, engineering, testing, project management, structural design assistance, prototype development, graphic design, printing, logistics, and supply chain management. Packaging Corporation of America maintains seven containerboard mills, two white paper mills, approximately 85-95 corrugated converting plants, sheet feeder plants, 10 creative design centers, three fulfillment centers, eight packaging and supply centers, and two training centers, with a workforce of about 15,400-15,500 employees serving North American markets. Founded in 1959 and headquartered in Lake Forest, Illinois, the company delivers containerboard and packaging solutions with a heritage tracing back over 150 years through predecessor entities. In June 2025, Packaging Corporation of America agrees to acquire Greif Inc.'s containerboard business for $1.8 billion in cash, adding two containerboard mills with 800,000 tons of annual capacity, eight sheet feeder and corrugated plants, $1.2 billion in sales, and $212 million in EBITDA for the LTM period ended April 30, 2025; the deal projects $60 million in annual pre-tax synergies from operational efficiencies, mill optimization, and transportation savings, with half realized in year one, and remains accretive to earnings upon expected Q3 2025 close financed by $1.5 billion debt and cash, maintaining a pro forma leverage of 1.7x.