Sofidel Completes Purchase of Clearwater Paper Tissue Business

Recycling Today (11/05/24) McNees, Marissa

Sofidel America Corp., a subsidiary of Italian paper company Sofidel S.p.A., has inked a $1.06 billion deal to acquire Clearwater Paper Corp.’s tissue business—the largest transaction in the company’s history. All regulatory approvals have been obtained. Sofidel CEO Luigi Lazzareschi points out, "This transaction makes Sofidel the fourth-largest tissue paper manufacturer in North America and strengthens its leadership in the private label sector, a market that is growing further." Sofidel will add four Clearwater Paper production sites: Shelby, N.C.; Lewiston, Idaho; Elwood, Ill.; and Las Vegas. It will also integrate approximately 1,700 employees into its network. The addition of the four tissue production facilities is projected to increase Sofidel's annual production capacity by 25 percent, or 340,000 metric tons.

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