Remi Lalonde

Resolute Forest Products hung a “For Sale” sign on its tissue division last week, making it the latest in a series of Canadian companies planning to exit businesses by tapping a robust pandemic-era mergers and acquisitions market. Resolute announced it is conducting a “strategic review” of the unit… after potential buyers reached out in recent weeks. The offers came after the company partially shut down a Tennessee mill in December. …Resolute’s tissue unit is anchored by the facility in Tennessee, and by others in Florida and Maryland. …Resolute chief executive Remi Lalonde said that the North American tissue market needs to consolidate around its largest players. …In North America, the paper towel and toilet paper sector is dominated by three producers: Georgia-Pacific, Proctor & Gamble, and Kimberly-Clark. Last year, Resolute’s tissue business lost US$24-million, while the company’s overall profit was US$584-million. [to access the full story a Globe and Mail subscription may be required]