eller bach ▁by ▁Sir ▁James ▁G olds m ith ▁in ▁July ▁ 1 9 8 5 , ▁which ▁resulted ▁in ▁the ▁break - up ▁of ▁the ▁San ▁Francisco - based ▁forest ▁products ▁corpor ation ▁in ▁May ▁ 1 9 8 6 . ▁The ▁more ▁prof itable ▁manufact uring ▁assets ▁( f ine ▁paper ▁mill s ) ▁were ▁sold ▁to ▁the ▁James ▁River ▁Corporation ▁of ▁Richmond , ▁Virginia ▁( which ▁merged ▁with ▁Fort ▁Howard ▁and ▁became ▁Fort ▁James ▁in ▁ 1 9 9 7 , ▁then ▁was ▁acquired ▁by ▁Georgia - P ac ific ▁in ▁ 2 0 0 0 ). ▁The ▁less ▁prof itable ▁container ▁division ▁( b rown ▁paper ) ▁of ▁C Z ▁became ▁" G ay l ord ▁Container ," ▁and ▁after ▁a ▁brief ▁period ▁as ▁a ▁limited ▁partners hip , ▁was ▁sold ▁in ▁November ▁ 1 9 8 6 ▁for ▁$ 2 6 0 ▁million ▁to ▁a ▁group ▁of ▁Mid west ▁invest ors ▁led ▁by ▁Warren ▁Hay ford ▁( b . ▁ 1 9 2 9 ) ▁and ▁Mar vin ▁P omer ant z ▁( 1 9 3 0 – 2 0 0 8 ). ▁ ▁They ▁head ed ▁Mid - America ▁Pack aging , ▁a ▁single ▁k raft ▁paper ▁mill ▁in ▁P ine ▁Bl uff , ▁Ark ansas , ▁acquired ▁from ▁W ey er ha e user ▁in ▁December ▁ 1 9 8 5 ▁for ▁$ 2 8 ▁million . ▁So on ▁after ▁the ▁ac quisition ▁of ▁the ▁former ▁Crown ▁Z eller bach ▁assets , ▁the ▁headquarters ▁of ▁Gay