SPOKANE, Washington — Clearwater Paper announced the successful completion of the sale of its tissue business to Sofidel America for $1.06 billion in cash, prior to customary purchase price adjustments. The transaction represents a significant step in the Company’s transformation into a premier independent supplier of paperboard packaging products to North American converters. Terms of the sale were first announced on July 22, 2024. “This is the next big step in transforming Clearwater into a premier independent paperboard packaging supplier in North America,” said Arsen Kitch, president and CEO. “While it’s the right business decision, it’s a bittersweet moment for our company. …“We’ll use the proceeds from the sale to pay down debt and strengthen our balance sheet.”