UNITED STATES

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

Date of Report:
Date of Earliest Event Reported:

September 28, 2000
September 15, 2000

BOISE CASCADE CORPORATION
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation or organization)

1-5057
(Commission File Number)

82-0100960
(I.R.S. Employer Identification No.)

1111 West Jefferson Street
P.O. Box 50
Boise, Idaho
(Address of principal executive offices)



83728-0001
(Zip Code)

208/384-6161
(Registrant's telephone number, including area code)

Item 5.

Other Events

Boise Cascade issued a news release on September 15, 2000, announcing that its wholly owned subsidiary, Boise Cascade Office Products, had reached an agreement in principle to acquire the Blue Star Business Supplies Group of US Office Products in Australia and New Zealand. A copy of the news release is filed as Exhibit 99.1.

Boise Cascade issued a news release on September 28, 2000, announcing that Boise Cascade Office Products had formed a joint venture with Guilbert S.A. of France to provide global service capabilities for both companies' customers. Boise Cascade also announced the sale of BCOP's European direct-marketing and contract stationer operations to Guilbert. A copy of the news release is filed as Exhibit 99.2.

After-tax proceeds from the 380 million euros sale of BCOP's European direct-marketing and contract stationer operations to Guilbert will be used to cover the purchase of the Blue Star Business Supplies Group (approximately US$115 million), reduce debt, and for general corporate purposes.

 

Item 7.

Financial Statements and Exhibits

(c)

Exhibits.

 

Exhibit 99.1

News release issued by the company on September 15, 2000.

 

Exhibit 99.2

News release issued by the company on September 28, 2000.

 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

BOISE CASCADE CORPORATION


By  Karen E. Gowland                

 

Karen E. Gowland
Vice President and Corporate Secretary

Date: September 28, 2000

 

EXHIBIT INDEX

 

Number

99.1

                                   Description

News Release Issued by the Company on September 15, 2000

Page Number

99.2

News Release Issued by the Company on September 28, 2000

 
NEWS RELEASE

Exhibit 99.1

NEWS RELEASE

Communications Department
1111 West Jefferson Street
P.O. Box 50
Boise, Idaho 83728-0001

Media contact:
Michael Moser
(Office)
(Home)



(208) 384-6016
(208) 853-9259

Investor contact:
Vincent Hannity
(Office)
(Home)



(208) 384-6390
(208) 345-8141

FOR IMMEDIATE RELEASE:  September 15, 2000

BOISE CASCADE OFFICE PRODUCTS TO ACQUIRE BUSINESS SUPPLIES
GROUP OF US OFFICE PRODUCTS IN AUSTRALIA AND NEW ZEALAND

BOISE, Idaho -- Boise Cascade Corporation (NYSE:BCC) announced today that Boise Cascade Office Products (BCOP), its wholly owned subsidiary, has reached an agreement in principle to acquire the Blue Star Business Supplies Group of US Office Products (OTC Bulletin: OFISC) in Australia and New Zealand for approximately US$115 million (AUST$213 million). The agreement with the Blue Star subsidiary of USOP includes Blue Star's office products distribution and educational supplies businesses in Australia and New Zealand. Revenues from these operations were approximately US$300 million in fiscal year 2000, which ended April 29, 2000. The acquisition is targeted to close early in the fourth quarter, subject to regulatory approval.

"This major acquisition will fold nicely into our existing operations and significantly expand our Australian presence," said Chris Milliken, BCOP's president and chief executive officer. "We're also extremely pleased to acquire the number-one office supplies distributor in New Zealand. In addition to a solid stand-alone business, we are also establishing a capability in New Zealand to service our Australian and North American customers who value global service agreements. By combining these two large and successful companies into one Trans-Tasman business with a substantial capital commitment, we are ideally positioned to meet the growing needs of our customers. Enhanced, consistent service, a state-of-the-art E-commerce offering (OrderPoint), and a single contact for both multisite and Trans-Tasman relationships will provide a powerful office supply solution for business customers. The geographical coverage of the combined entity will be unparalleled in Australia and New Zealand," said Milliken .

"I am pleased to announce an agreement that we believe is in the best interest of all of our stakeholders," said Warren D. Feldberg, president and chief executive officer of US Office Products. "I would like to take this opportunity to thank our employees for their dedicated service and our customers for their loyalty to the Business Supplies Group. We know they will find Boise Cascade Office Products to be an excellent employer and supplier in the future."

Boise Cascade Office Products, a wholly owned subsidiary of Boise Cascade Corporation, is headquartered in Itasca, Illinois. BCOP is a premier global business-to-business distributor of office supplies, paper, furniture, technology products, and promotional products to business customers through its integrated facilities in the United States, Canada, and Australia. BCOP is also a leader in business-to-business E-commerce and anticipates a run rate of $800 million of E-commerce business by year-end 2000. BCOP reported revenues of US$3.4 billion in 1999.

Boise Cascade Corporation, headquartered in Boise, Idaho, is a major distributor of office products and building materials and an integrated manufacturer and distributor of paper and wood products. The company owns and manages more than 2  million acres of timberland in the United States. A leader in sustainable forestry, Boise Cascade uses third-party audits and an advisory council of independent experts in its Forest Stewardship Program to ensure the protection of wildlife, plants, soil, and air and water quality. Boise Cascade reported revenues of US$7.0 billion in 1999. Visit the Boise Cascade web site at "http://www.bc.com."

NEWS RELEASE

Exhibit 99.2

NEWS RELEASE

Communications Department
1111 West Jefferson Street
P.O. Box 50
Boise, Idaho 83728-0001

Media contact:
Michael Moser
(Office)
(Home)



(208) 384-6016
(208) 853-9259

Investor contact:
Vincent Hannity
(Office)
(Home)



(208) 384-6390
(208) 345-8141

FOR IMMEDIATE RELEASE:  September 28, 2000

BOISE CASCADE OFFICE PRODUCTS AND GUILBERT S.A.
FORM JOINT VENTURE TO OFFER GLOBAL SERVICE CAPABILITIES

* * * * *

BCOP's European Office Products Operations Sold to Guilbert

BOISE, Idaho -- Boise Cascade Corporation (NYSE:BCC) announced today that Boise Cascade Office Products (BCOP), its wholly owned subsidiary, has formed a joint venture with Guilbert S.A. of France to provide global service capabilities for both companies' customers. Through the new venture, BCOP will service customers in North America, Australia, and New Zealand. Guilbert will service customers throughout Europe and parts of the Middle East. Both companies offer business customers next-day desktop delivery of office supplies, paper, technology products, and furniture.

Boise Cascade Corporation also announced the sale to Guilbert of BCOP's European direct-marketing and contract stationer operations, which had sales of approximately US$320 million in 1999.

George J. Harad, chairman of the board and chief executive officer, said, "This transaction will have two benefits. First, it further strengthens the global position of our office products distribution business. Second, it will significantly strengthen Boise Cascade's balance sheet and be accretive to earnings."

Proceeds from the sale will be used to reduce Boise Cascade Corporation debt and for general corporate purposes.

"This joint venture with Guilbert is excellent news for those global businesses that desire a worldwide solution to their office products needs," said Chris Milliken, BCOP's president and chief executive officer. "Now, customers have the combined and coordinated power of the premier office supply providers in North America, Australia, and Europe. Guilbert has an outstanding reputation in Europe through its years of exceptional service. BCOP is looking forward to offering closely coordinated and cost-effective pan-European capability to our North American customers."

"We are extremely pleased to partner with Boise Cascade Office Products," said Jean-Charles Pauze, president du directoire of Guilbert S.A. "This joint offering will provide customers seeking a global solution the combined strength of two premier providers. Additionally, a single-contract relationship will provide the control and effectiveness large business-to-business customers require."

Guilbert, a subsidiary of Pinault-Printemps-Redoute, is the European leader in distribution of office supplies, office furniture, and IT equipment, with 1999 sales of FRF 7.3 billion made in 10 European countries. Guilbert has based its expansion on a concept of global customer service, for major customers and SMEs alike, via three sales formats: mail order sales with a catalogue containing over 9,000 product references of which 2,300 are under its own name, direct sales via a sales staff network of 1,500, and Internet through its Guilbweb extranet (personalized electronic catalogue) and guilbertdirect.com.

Boise Cascade Office Products, a wholly owned subsidiary of Boise Cascade Corporation, is headquartered in Itasca, Illinois. BCOP is a premier global business-to-business distributor of office supplies, paper, furniture, technology products, and promotional products to business customers through its integrated facilities in the United States, Canada, and Australia. BCOP is also a leader in business-to-business E-commerce and anticipates an annualized rate of $800 million of E-commerce business by year-end 2000. BCOP reported revenues of US$3.4 billion in 1999.

Boise Cascade Corporation, headquartered in Boise, Idaho, is a major distributor of office products and building materials and an integrated manufacturer and distributor of paper and wood products. The company owns and manages more than 2 million acres of timberland in the United States. A leader in sustainable forestry, Boise Cascade uses third-party audits and an advisory council of independent experts in its Forest Stewardship Program to ensure the protection of wildlife, plants, soil, and air and water quality. Boise Cascade reported revenues of US$7.0 billion in 1999. Visit the Boise Cascade web site at "http://www.bc.com."

This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are factors that could cause actual results from this announced joint venture and sale to differ from the results that we have projected here. Those factors include, among other things, our success in attracting and retaining customers, the impact of other consolidations within the office products industry, changes in general economic conditions both domestically and abroad, and other factors we have included in our filings with the Securities and Exchange Commission.