Clearwater Paper Corporation announced the successful completion of the sale of its tissue business to Sofidel America Corp., a subsidiary of Sofidel S.p.A., 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 of Clearwater Paper.
“We’ll use the proceeds from the sale to pay down debt and strengthen our balance sheet. We will be well positioned to scale and diversify our paperboard business to create long-term value for our shareholders,” said Mr. Kitch.
Clearwater Paper is a premier independent supplier of paperboard packaging products to North American converters.
