Twin Rivers to acquire paper mill from Mondi Group in the US
US-based packaging paper producer Twin Rivers Paper has agreed to acquire Mondi Group's paper mill located in Pine Bluff, Arkansas.
US-based packaging paper producer Twin Rivers Paper has agreed to acquire Mondi Group’s paper mill located in Pine Bluff, Arkansas.
The companies have not disclosed the financial details of the deal, which is expected to be completed by the second quarter of 2018.
Headquartered in Madawaska, Maine, Twin Rivers produces speciality packaging, label, publishing, and technical speciality papers, as well as dimensional lumber.
“Twin Rivers continues to strengthen its hold atop the marketplace.”
It is jointly owned by Atlas Holdings and Blue Wolf Capital.
Twin Rivers chief executive officer Bob Snyder said: “Twin Rivers is a nimble, high quality, integrated forest products company that is well positioned as a market leader in the packaging, publishing, label and technical specialities markets.
“The addition of the Pine Bluff mill is consistent with the evolution of our company and fully complements our overall mill system, product offerings and strategic direction.”
The mill manufactures multiwall, converting and grocery bag grade unbleached kraft papers for food and agricultural industries.
Atlas Holdings co-founder and managing director Tim Fazio said: “With this agreement and its recent acquisition of Burrows Paper, Twin Rivers continues to strengthen its hold atop the marketplace.
“This is an exciting step for the business and we look forward to welcoming the team in Pine Bluff to the Twin Rivers family.”
With a workforce of 26,000 people in more than 30 countries, Mondi Group manufactures sustainable packaging and paper solutions.
Mondi Group Packaging Paper CEO Clemens Willee said: “We believe that the interests of the mill and its employees are better served by the new owners where there is a closer long-term strategic alignment.”