Crown Paper acquires Port Townsend Holdings

Crown Paper Group Inc., a holding company formed in early 2015 for investments in the paper and packaging industries, has acquired the paper company Port Townsend Holdings Co. The acquisition includes the Port Townsend Paper mill in Port Townsend, Washington, which also serves as the company’s headquarters; two packaging plants in Vancouver, British Columbia; and distribution centers in Kelowna, British Columbia, and Calgary, Alberta.

Crown Paper Group, created by the investment firm Lindsay Goldberg, has as its mission to invest in the paper and packaging industries. The company’s leadership team includes Steve Klinger, Matt Denton, Mike Exner, Steve Strickland and Craig Hunt. Combined, the management staff has more than 150 years of experience in the paper and packaging industries.

“We are energized by the opportunity to work with the customers and employees of the Port Townsend Paper mill, Crown Corrugated and Boxmaster,” says Klinger, Crown Paper Group’s CEO. “We have a track record of engaging employees in involved and productive workplaces, embracing safe work practices, minimizing our environmental footprint, and partnering with the communities in which we operate. We look forward to applying our ‘Best Practices’ and ‘Excellence Always’ principles to exceed customers’ expectations.”

Port Townsend Paper recycles about 127,000 tons of old corrugated containers per year. The company manufactures about 1.5 billion square feet of corrugated products each year at its packaging plants.