Georgia Pacific Sale Finalized

By: The Associate Press
By: The Associate Press

Koch Industries is officially the biggest private company in the country. The conglomerate, based in Wichita, Kansas, said Friday it had completed its $13 billion acquisition of Atlanta-based Georgia-Pacific Corporation.

The deal also involves Koch assuming nearly $8 billion in debt from Georgia-Pacific, the maker of Brawny paper towels and Angel Soft tissue.

Koch's new properties in Alabama include the Naheola pulp and paper plant in Pennington and the Southern Pine Sawmill in Belk, just outside Fayette.

With combined annual revenue of $80 billion, Koch would surpass food and farm products maker Cargill as the largest privately held company in the U.S.

Georgia-Pacific, which operates 11 facilities in Alabama, will keep its name and continue to operate from its Atlanta headquarters as a privately-held, wholly-owned subsidiary of Koch.

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