Clearwater Paper Corporation announced the successful completion of the sale of its tissue business to Sofidel America Corp. The transaction was finalized for $1.06 billion in cash, prior to customary purchase price adjustments.
This divestiture represents a significant step in the company's transformation into a premier independent supplier of paperboard packaging products to North American converters. The proceeds from the sale are intended to pay down debt and strengthen the balance sheet.
CEO Arsen Kitch stated that the company is now well-positioned to scale and diversify its paperboard business to create long-term value for shareholders. Sofidel, with this acquisition, becomes the fourth largest tissue paper manufacturer in North America.
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