Kapstone (KS) to Acquire Victory Packaging in Net $515M Deal
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KapStone To Acquire Victory Packaging
May 5, 2015 7:00 AM EDTNORTHBROOK, Ill., May 5, 2015 /PRNewswire/ -- KapStone Paper and Packaging Corporation (NYSE: KS) ("KapStone")  and Victory Packaging/Golden State Container ("Victory") jointly announced today that they have signed an agreement for KapStone to acquire the assets of Victory Packaging in a cash-free, debt-free transaction for $615 million in cash, subject to post-closing adjustments.  In addition, two contingent earnouts totaling $45 million could be payable two and a half to four years after the close and are based on the continued strong growth of the business. Closing of the acquisition is subject to a number... More
KapStone Reports First Quarter Results
May 4, 2015 5:15 PM EDTNORTHBROOK, Ill., May 4, 2015 /PRNewswire/ --Â KapStone Paper and Packaging Corporation (NYSE: KS) today reported results for the first quarter ended March 31, 2015. As compared to 2014's first quarter, results for 2015's first quarter are below:
Net sales of $546 million down $3 million, or 1 percent Net income of $26 million down $6 million, or 19 percent Adjusted net income of $29 million down $6 million, or 17 percent Adjusted EBITDA of $87 million down $9 million, or 9 percent Adjusted EBITDA margin of 15.8 percent, down from 17.4 percent Diluted EPS of $0.27 down $0.06 per... More