PRINT THIS PAGE

Madison Dearborn buys Boise Cascade for $3.7bn

Madison Dearborn Partners has agreed to buy the paper, forest products and timberland assets of US Boise Cascade Corporation for $3.7bn.

Boise Cascade is the owner of office supply retailer OfficeMax. The company will change its name to OffixMax upon completion of the deal and will continue to operate its office products distribution business, which had annualised first half 2004 sales of $8.6bn.

'Madison Dearborn Partners is delighted to enter into this transaction with Boise,' said Samuel Mencoff, co-president of the private equity firm. 'This acquisition is consistent with Madison Dearborn Partners' investment objectives of acquiring industry-leading companies in partnership with outstanding and committed management teams.'

'We look forward to working with the Boise Cascade management team as they pursue their strategy as a privately held company focussed solely on their traditional paper and forest products market,' Mencoff continued.

Copyright © 2004 AltAssets