US-based Twin Rivers Paper has signed an agreement to acquire Mondi Group’s paper mill in Pine Bluff, Arkansas.
Terms of the deal, which is expected to be completed in the second quarter of this year, have not been disclosed.
Pine Bluff mill is engaged in the production of multiwall, converting and grocery bag grade unbleached kraft papers, which can be used in a range of food, agricultural, and industrial applications.
With basis weights between 40# and 78#, the mill holds capacity in excess of 140,000 US short tons.
Based in Madawaska of Maine, Twin Rivers manufactures specialty packaging, label, publishing, and technical specialty papers, as well as dimensional lumber.
Twin Rivers CEO 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 specialties 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.”
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.”
Atlas Holdings and Blue Wolf Capital are the owners of the Twin Rivers, which produces uncoated and coated papers for fast-food, retail food, industrial and medical packaging applications.
The company also manufactures application-specific papers for industrial, medical and gift/decorative tissue products.
Twin Rivers’ specialty papers can be used for thermal transfer printing and release liner applications that require silicone compatibility the need silicone compatibility.
In addition, the firm’s Premium hybrid and freesheet papers are suitable for religious, pharmaceutical, reference, book, catalog and financial printing applications.
The firm’s brands comprised of Acadia packaging products, Alliance label products, and Pharmopaque pharmaceutical papers.
With around 26,000 employees in over 30 countries, Mondi manufactures industrial and consumer packaging solutions.
