US-based manufacturer of packaging products Boise has announced the planned acquisition of the Hexacomb protective packaging business, Pregis, for $125m.

Boise president and CEO Alexander Toeldte said the acquisition provides an opportunity to expand in packaging markets and that Hexacomb provides a substantial step up in vertical integration within the company’s existing packaging business.

Boise hopes to close the transaction by the end of 2011 or early 2012.

Hexacomb, a provider of kraft paper-based honeycomb protective packaging products reported revenues of $102m and converted about 60,000t of containerboard in 2010.