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Twin Rivers to acquire Pine Bluff, Arkansas paper mill from Mondi
Twin Rivers Paper Company LLC announced today that it has entered into a definitive agreement to acquire the paper mill located in Pine Bluff, Arkansas owned by Mondi Group. Twin Rivers, headquartered in Madawaska, Maine, produces specialty packaging, label, publishing, and technical specialty papers as well as dimensional lumber. It is owned jointly by Atlas Holdings LLC and Blue Wolf Capital. The acquisition is anticipated to be completed in Q2 2018. Terms were not disclosed.
“The strategic acquisition positions the company well to grow with and better serve its customers and other stakeholders.”
The mill to be acquired under this agreement produces Multiwall, Converting and Grocery Bag grade unbleached kraft papers serving a variety of food, agricultural, and industrial applications. With basis weights between 40# and 78#, the mill has a capacity in excess of 140,000 US short tons.
“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 specialties markets,” said Bob Snyder, Chief Executive Officer of Twin Rivers. “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.”
“We are very pleased with the opportunity to add this facility and its valued associates to our company,” said Ken Winterhalter, President of Twin Rivers. “The proposed transaction will provide a logical grade-line extension to our current offerings and is evidence of our ongoing commitment to enhance the value we provide to our customers.”
“With this agreement and its recent acquisition of Burrows Paper, Twin Rivers continues to strengthen its hold atop the marketplace,” said Tim Fazio, Co-Founder and Managing Director of Atlas Holdings. “This is an exciting step for the business and we look forward to welcoming the team in Pine Bluff to the Twin Rivers family.”
“We are excited to add Pine Bluff to the Twin Rivers portfolio,” said Adam Blumenthal, Managing Partner of Blue Wolf Capital. “The strategic acquisition positions the company well to grow with and better serve its customers and other stakeholders.”
Clemens Willee, CEO Packaging Paper, Mondi Group, 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.”