(Telestock) – Sofidelone of the world leaders in the production of paper for hygienic and domestic use (known in particular for the Regina brand) has signed a definitive agreement for theAcquisition of Clearwater Paper Corporation’s tissue division (CLW Tissue). It is a major player in the North American tissue market, which is a growing market. The company supplies high-quality products to major retailers operating through various channels: supermarkets, hypermarkets and discounters.
With revenues over a billion dollarsan annual capacity of 340 thousand tons and over 1,600 employees, CLW Tissue operates through an integrated network of four manufacturing facilities in the United States: Shelby, North Carolina, Lewiston, Idaho, Las Vegas, Nevada and Elwood, Illinois.
The acquisition represents a significant milestone in the continuation of Sofidel’s growth path in North Americaa developing market with solid economic foundations, where Sofidel has been present for more than 10 years.
The acquisition will allow Sofidel to strengthen its offering to customers in the North American market, expand its technological capabilities (including Through Air Drying technology), and help optimize its network, allowing it to further enhance the standards of service offered to its customers. The closing of the transaction is expected by 2024. Financial details were not disclosed.
“We are extremely proud of this agreement, which represents a milestone in our history,” said theCEO Luigi Lazzareschi – Through this transaction, we acquire a strategic network of four manufacturing facilities that will enrich our product portfolio with TAD technology, and will create the conditions to significantly strengthen and support our growth in North America.”