Georgia-Pacific to acquire Anchor Packaging

Packaging company Georgia-Pacific and an affiliate of TJC L.P. have reached an agreement for Georgia-Pacific to purchase Anchor Packaging, a St. Louis-based manufacturer of rigid food containers and cling film for the food service, retail and processor channels. Anchor also has operations in Arkansas and Wisconsin.

Since 2019, Anchor has been a portfolio company of TJC, a New York City-based private equity firm. Closing of the acquisition is subject to regulatory review and customary closing conditions and is expected later this year. The companies have not disclosed financial details.

“Anchor Packaging will be a significant addition to Georgia-Pacific’s consumer products platform, with capabilities that will especially complement our Dixie business,” says David Duncan, executive vice president of Atlanta-based Georgia-Pacific’s Consumer Products Group. “Anchor’s talented teams are committed to understanding customer needs and delivering innovative and differentiated solutions to support the needs of the growing food-to-go market.”

Dixie President Fernando González called the acquisition a major step in building a platform for growth.

“Adding Anchor Packaging to Georgia-Pacific’s portfolio aligns perfectly with our vision to be a preferred partner in providing innovative food and beverage packaging and tableware solutions to our customers," he says. "We are excited to welcome the Anchor Packaging team to Georgia-Pacific.”

Anchor Packaging was advised by RBC Capital Markets and Goldman Sachs, and Georgia-Pacific was advised by Nomura Securities International Inc. in the transaction.

“We are excited to join Georgia-Pacific and embark on a new chapter of growth and innovation," Anchor President and CEO Jeff Wolff says. "This partnership allows us to expand our product portfolio, strengthen our supply chain and accelerate our commitment to innovation. We look forward to delivering even greater value to our customers and stakeholders."