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July 23, 2024

Clearwater Paper

Spokane-based Clearwater Paper, a supplier of consumer tissue and bleached paperboard, has entered into a definitive agreement to sell its tissue business to Sofidel America, a subsidiary of Sofidel S.p.A., a manufacturer of paper for hygienic and domestic use, for $1.06 billion, subject to adjustments for debt, cash, transaction expenses and net working capital. “Clearwater Paper is transforming into a premier paper supplier in North America. Upon completion of this transaction, we intend to deleverage our balance sheet while scaling and diversifying our paperboard business to meet the needs of our customers,” said Arsen Kitch, president and chief executive officer. The transaction is expected to close in the latter part of 2024, subject to customary closing conditions. Goldman Sachs & Co. is serving as financial advisor to Clearwater Paper, and Pillsbury Winthrop Shaw Pittman is serving as legal advisor.




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