* Cleanzine-logo-8a.jpgCleanzine: your weekly cleaning and hygiene industry newsletter 12th December 2024 Issue no. 1142

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Sofidel acquires Clearwater Paper's Tissue Division; becomes N. America's 4th largest tissue paper producer

* SOFIDEL-CLEARWATER.jpgItalian tissue manufacturer Sofidel has finalised the acquisition of the tissue division of Clearwater Paper Corporation, which means it is now the fourth largest tissue paper manufacturer in North America.

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 some 1,700 employees - Sofidel increases its production capacity by 25% (340,000 metric tons/yr), 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 US), 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," says Luigi Lazzareschi, Sofidel CEO. "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."

Edilio Stefani, Sofidel chairman, adds: "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."

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.

Established in 1966, the Sofidel Group, headquartered in Porcari (Lucca, Italy) is active in 13 countries - 12 in Europe and in 11 states in the US, with over 8,500 employees and a production capacity of 1,850,000 metric tons per year (these numbers also include the acquisition of ST Paper and CLW Tissue in 2024). In 2023, the Group had net sales of 3,129 million Euros (2023).

www.sofidel.com

7th November 2024




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