Clearwater Paper enters into $1.06 billion deal to sell business

Clearwater Paper Corporation
July 22, 2024
Category: Business & Politics
Region: United States, US West

SPOKANE, Washington — Clearwater Paper, a supplier of quality consumer tissue and bleached paperboard, announced that it has entered into a definitive agreement to sell its tissue business to Sofidel America Corporation, a subsidiary of Sofidel S.p.A., a manufacturer of paper for hygienic and domestic use, for $1.06 billion, subject to adjustments. The transaction represents the next step in the Company’s transformation to become a premier independent supplier of paperboard to North American converters and the conclusion of its previously announced review of strategic options for the tissue business. …Arsen Kitch, CEO said, “We believe our tissue business needs scale and investment to drive growth over the longer term, and we are excited to watch its continued progress as part of Sofidel.” …The transaction is expected to close in the latter part of 2024, subject to customary closing conditions.

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