Sofidel Closes Acquisition Of Clearwater Paper Corporation

Sofidel has finalized the acquisition of the tissue division of Clearwater Paper Corporation (CLW Tissue). The agreement was announced on July 22, and all regulatory approvals have been obtained.

The transaction, the largest carried out in company history, represents a strategic step in Sofidel's journey, according to the company. The acquisition of CLW includes four production plants – Shelby (North Carolina), Lewiston (Idaho), Las Vegas (Nevada), and Elwood (Illinois) – and the integration of about 1,700 employees. 

Additionally, Sofidel is increasing its production capacity by 25% (340,000 metric tons per year), expanding its commercial offerings (two out of the six paper mill machines acquired are TAD - Through Air Drying machines, a technology widely used in the United States, particularly in the kitchen towel segment), and optimizes its geographic coverage.

"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,” said Luigi Lazzareschi, Sofidel CEO. “This is a step that brings the goal of having equivalent revenues on both sides of the Atlantic Ocean much closer.”

Sofidel is also pursuing other consolidation and development plans in the North American market. At its Circleville (Ohio) plant, the company is working to increase paper mill capacity by 50% and is equipping its Duluth (Minnesota) plan with converting lines and a new automated warehouse.