The Canadian Competition Bureau has approved two independent buyers for Domtar’s mills in Ontario to resolve competition concerns in the local pulp and paper industry.
The buyers are Dryden Fiber Canada and Atlas Holdings.
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Atlas Holdings will purchase Domtar’s pulp and paper mill in the city of Thunder Bay while Dryden Fiber Canada will buy Domtar’s pulp mill in Dryden.
Dryden Fiber Canada is an affiliate of First Quality Enterprises that manufactures, sells, and distributes a variety of packaging, paper and hygiene products.
Atlas Holdings meanwhile, owns and operates a diverse portfolio of businesses across a variety of sectors, including in the pulp, paper, packaging, printing, industrial services, metals, construction, energy, logistics industries, automotive, and building materials sectors.
The latest decision builds on a consent agreement signed between Domtar and the bureau in December last year.
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By GlobalDataThis agreement is aimed to address competition concerns related to Domtar’s acquisition of Resolute Forest Products.
After carrying out a review of this acquisition, the bureau determined that the merger of these two companies would most likely minimise competition related to the supply of northern bleached softwood kraft pulp across Eastern and Central Canada.
To resolve these competition concerns, the bureau decided that the sale of Dryden’s pulp mill and Thunder Bay pulp and paper mill would help to even out the sector’s field.
Domtar is a pulp and paper manufacturing company that was acquired by Canadian pulp and paper manufacturer Paper Excellence in May 2021.
Domtar and Paper Excellence Group first announced their plans to acquire Resolute Forest Products in July last year.
Through this deal, Paper Excellence aimed to strengthen its forest products portfolio in North America.
