Sofidel Finalises Acquisition of Clearwater Paper Corporation’s Tissue Division and Becomes Fourth Largest Tissue Paper Producer in North America

With this transaction worth USD1.06 billion, Sofidel Group increases its production capacity by 25% (340,000 metric tons per year) and improves its geographic coverage in the United States, creating the conditions to meet additional demand and grow further.

Sofidel, one of the global leading manufacturers of paper for hygienic and household use, known particularly in Italy and Europe for its Regina brand, has finalised the acquisition of the tissue division of Clearwater Paper Corporation.

The agreement had been announced last July 22. All regulatory approvals have been obtained.

The transaction, the largest carried out in the Group’s history, represents a strategic step in Sofidel’s journey. Thanks to the acquisition of four production plants – Shelby (North Carolina), Lewiston (Idaho), Las Vegas (Nevada) and Elwood (Illinois) – and the integration of about 1,700 employees, Sofidel increases its production capacity by 25% (340,000 metric tons per year), expands 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 optimises 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. A step that brings the goal of having equivalent revenues on both sides of the Atlantic Ocean much closer. A crucial acquisition for the future of Sofidel as a whole.

Luigi Lazzareschi, Sofidel CEO

“Today marks the completion of the largest acquisition in our Group’s history, a goal we have envisioned for years. We can proudly say that we were ready to seize the opportunity when it arose,” said Edilio Stefani, Sofidel Chairman.

Meanwhile, Sofidel is pursuing other consolidation and development plans in the North American market. It is doing so at the Circleville (Ohio) plant, where it is working on increasing paper mill capacity by 50%, and at the Duluth (Minnesota) plant, which will be equipped with converting lines and a new automated warehouse.