Boise announces sale of paper, forest products and timberland assets
Aug 9, 2004 4:54 PM, AP staff
Boise Cascade Corp. (Boise, ID) will sell its paper, forest products and timberland assets for approximately $3.7 billion to affiliates of Boise Cascade LLC, a new company formed by private equity investment firm Madison Dearborn Partners LLC (Chicago). Following the transaction, Boise Cascade will change its company and trade name to OfficeMax, Inc., which is headquartered in Itasca, IL, and will focus on its office products distribution business. Acquiring company Boise Cascade LLC will be privately held and headquartered in Boise, ID.
The transaction is expected to close in November, at which point George J. Harad. current chairman and CEO of Boise Cascade, will become executive chairman of the board of OfficeMax. Chris Milliken, currently division president and CEO, Boise Office Solutions, will become president and CEO of OfficeMax.
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