SPOKANE, Wash. – Clearwater Paper Corporation has completed the sale of its tissue business for $1.06 billion in cash. The business that is headquartered in Spokane says it’s a strategic move as part of the company’s plan to focus on its core paperboard production.
The sale is intended to accelerate Clearwater Paper’s transformation and strengthen its position as a leading independent supplier of paperboard to converters across North America.
Clearwater Paper aims to streamline its operations and concentrate on high-value markets. The company plans to leverage its expertise and resources to ensure continued growth and leadership in the industry.
“This is the next big step in transforming Clearwater into a premier independent paperboard packaging supplier in North America,” said Arsen Kitch, president and CEO of Clearwater Paper. “While it’s the right business decision, it’s a bittersweet moment for our company. We are parting ways with valued colleagues, and that’s difficult.”
