Twin Rivers Paper Reaches Definitive Agreement to Acquire Arkansas Paper Mill

SEATTLE (Scrap Monster): Madawaska, Maine-headquartered integrated specialty paper company, Twin Rivers Paper Company has announced that it has reached a definitive agreement towards acquisition of the Pine Bluff, Arkansas paper mill, which is currently owned by Mondi Group. According to press release issued by Twin Rivers Wednesday morning, the acquisition is expected to be completed during the second quarter of 2018. However, terms of the agreement were not disclosed to the public.

Bob Snyder, Chief Executive Officer of Twin Rivers stated that the addition of the Pine Bluff paper mill is consistent with the evolution of the company. Further, it complements fully with its mill system, product offering and market strategies. Ken Winterhalter, President of Twin Rivers expressed immense pleasure in the opportunity to add the new facility and its valued associates to Twin River’s fold. The proposed transaction will offer grade-line extensions to its current offerings, he added.

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The joint holders of Twin Paper Company-Atlas Holding and Blue Wolf Capital- also praised the transaction. Tim Fazio, Co-Founder and Managing Director of Atlas Holdings noted that this exciting acquisition will help the company to further strengthen its leadership position in the market. Adam Blumenthal, Managing Partner of Blue Wolf Capital stated that the strategic acquisition will trigger future growth of the company and help it to better serve its customers and other stakeholders.

Meantime, Clembag grBag s Willee, CEO Packaging Paper, Mondi Group hoped that the interests of the mill and its employees will be better served by its new owners.

Earlier in November 2016, Twin Rivers Paper Company had announced acquisition of New York- headquartered Burrows Paper Corporation for an undisclosed amount. That acquisition had resulted in significant expansion of Twin River’s geographic footprints and product offerings.