Tricel Honeycomb acquires Verticel from Hexacomb to expand its structural paper core business

Consolidation in the vertical paper core market

The structural paper core market in North America has just undergone a highly targeted consolidation. On October 26, 2026, Illinois-based Tricel Honeycomb announced the acquisition of the Verticel manufacturing operations, brand, trademark, and customer portfolio from Hexacomb, a division of Packaging Corporation of America (PCA). While the public communication surfaced late in the month, the transaction officially closed weeks earlier, on October 1, 2026.

Financial terms remain undisclosed, but the industrial logic of the operation is clear. Verticel specializes in vertical paper honeycomb, a distinct architecture from the standard expanded honeycomb widely used in protective packaging. By orienting the kraft paper cells upright, the vertical configuration delivers exceptionally high crush strength relative to its minimal weight. This structural integrity makes it a critical component in composite sandwich panels used across heavy-duty applications, including automotive interiors, truck caps, marine construction, and contract furniture.

Strategic capacity and market share

For Tricel Honeycomb, a family-owned manufacturer operating out of Gurnee, Illinois, absorbing Verticel is a direct capacity and market share play. Eric Haas, President and CEO of Tricel, noted that Verticel brings a long track record and a loyal customer base. By integrating these assets, Tricel reinforces its status as the primary independent manufacturer of vertical honeycomb in the region, expanding its production bandwidth to meet the growing demand for lightweighting materials.

The acquisition aligns with broader manufacturing trends where weight reduction is paramount. In the automotive and transportation sectors, replacing traditional dense materials with vertical paper cores directly improves fuel efficiency and reduces carbon emissions without compromising load-bearing capabilities. Tricel already supplies core materials to major truck cap manufacturers in the US and Canada, and the Verticel portfolio will likely deepen this penetration.

From PCA's perspective, divesting Verticel allows its Hexacomb division to streamline its focus on its core expanded honeycomb and protective packaging solutions, such as Cushion-Comb and Falconboard. Meanwhile, Tricel captures a legacy brand that perfectly mirrors its own technical DNA, ensuring that the specialized vertical honeycomb segment remains anchored by a dedicated, pure-play manufacturer.