Boise Cascade
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Boise Cascade Holdings, LLC, which uses the trade name Boise, is an American pulp and paper company, ranked as the thirteenth largest forest products company in the world. It is composed of the assets sold off when the publicly-traded Boise Cascade Corporation renamed itself OfficeMax Inc. (after acquiring the company of the same name in 2003).
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[edit] Boise Cascade Corporation
Boise Cascade Corporation, was established in 1957 as the result of the merger between Boise-Payette Lumber Company of Boise and the Cascade Lumber Company of Yakima, Washington.
Boise-Payette was established in 1913 from a merger of the Payette Lumber & Manufacturing Company and Barber Lumber, a Wisconsin company with operations in the Boise Basin. Payette Lumber, a Minnesota firm, acquired 33,000 acres (130 km²) of state timber in Idaho's Long Valley near present-day Cascade in 1902. To control the passage of logs downstream, the company built a large splash dam below Smith's Ferry on the North Fork of the Payette River. Logs were sent downstream to sawmills in the town of Payette.
In the 1960's, Boise Cascade acquired a majority interest in the Cuban Electric Co., the primary electric utility in pre-Castro Cuba.[1]
In November 2004, the corporation completed its sale of its paper, building products, and timberland assets to Madison Dearborn Partners, a private equity investment firm. Boise Cascade Corporation then renamed itself OfficeMax, which it had acquired in 2003.
[edit] Aldabra 2 Acquisition Corp.
In September 2007, Madison Dearborn Partners sold the company to Aldabra 2 Acquisition Corp. The company is based in New York, NY. Aldabra 2 Acquisition Corp., started by investors Nathan Leight and Jason Weiss of New York-based Terrapin Partners, agreed to pay $1.34 billion in cash and the rest in shares to take over the unit. Madison Dearborn kept Boise Cascade's remaining wood products and building materials divisions.
Boise Cascade is headquartered in downtown Boise, Idaho. The company is run by Alexander Toeldte, formerly Boise Cascade's executive vice president in charge of the paper, packaging and newsprint businesses.
The company is not affiliated with the Canadian paper company Cascades.
[edit] See also
- Grand & Toy - acquired in 1996
[edit] References
- ^ Evan Perez. "OfficeMax Thwarts Families' Attempts To Tap Cuba Funds", The Wall Street Journal, September 15, 2006, pp. A1.
[edit] External links
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