Resolute Forest Products voted in favour of an offer by Paper Excellence Group to buy the company through its newly acquired subsidiary, Domtar. When complete — expected in the first half of 2023 — it will make Paper Excellence one of North America’s largest forestry companies, with more than two dozen pulp, paper and packaging mills and 17 lumber mills in Canada and the U.S. Combined, the acquisition of Resolute and Domtar would represent an investment of $7.7 billion. Paper Excellence will soon rival West Fraser Timber, which has a market cap of $8.6 billion, as North America’s largest forestry company. …Given that the company started with a single pulp mill in Canada in 2007, its recent growth spurt has been remarkable in its scale and speed. …“The growth has definitely been impressive,” said Kevin Mason, of ERA Forest Products Research. …Paper Excellence in Canada has been a pure-play pulp and paper company. The Resolute acquisition makes it more of an integrated forestry company.