Boise Inc., the Boise-based company that makes cardboard products was officially purchased by Packaging Corporation of America late last week.
The $1.27 billion deal became final after Boise Inc.'s shareholders agreed to the terms of the acquisition. The longtime Boise-based company's merger with PCA means headquarters are now in Lake Forest, Illinois. According to its press release, PCA is now the fourth largest maker of containerboard in the United States, operating eight mills and 97 factories.
Boise has more than 5,000 employees at its facilities worldwide, including 450 employees at its headquarters in Boise. It's still unclear how the merger will impact Idaho workers. PCA says it's not releasing any details at this time.
Still, Boise Inc.'s director of investor relations Greg Jones said before the acquisition was finalized that "intuitively" job cuts would likely be made at Boise's headquarters.