Sofidel, an Italian group owned by the Stefani and Lazzareschi families in business since 1966, one of the world's leading manufacturers of paper for hygienic and household use known in particular for the Regina brand in Italy and Europe, announces the signing of a definitive agreement to acquire the tissue division of Clw, Clearwater paper corporation Tissue. It is, the company points out in a note, a “primary player in the growing North American tissue market”: supplying high-quality products to major retailers active through channels such as supermarkets, hypermarkets and discount stores.

With revenues in excess of $1 billion, an annual capacity of 340,000 tons and more than 1,600 employees, Clw Tissue operates through an integrated network of four manufacturing plants in the United States: in Shelby (North Carolina), Lewiston (Idaho), Las Vegas (Nevada) and Elwood (Illinois). 

The acquisition, Sofidel's note points out, “represents a significant step in the continuation of its growth path in North America, a developing market with solid economic foundations, where Sofidel has been present for more than 10 years”. The acquisition will enable the group from Porcari, in the province of Lucca, to “strengthen its offering to customers in the North American market, expand its technological capabilities (including Through Air Drying technology) and help optimize its network,” further enhancing the service standards offered to its customers.

Sofidel and Clw Tissue, the note adds, “are characterized by a high degree of cultural affinity based on a mutual focus on operational excellence, ethics and integrity”: under the agreement, the Italian group commits to “effectively integrate Clw Tissue's employees into its operations, ensuring continuity and stability.” The acquisition will also further accelerate the “sustainability journey that Sofidel and Clw Tissue have embarked on, leveraging their respective long-standing commitment and proven achievements in environmental and safety management”.

Closing of the transaction is expected by 2024 and is subject to customary regulatory approvals and satisfaction of other customary conditions at closing. 

“Thanks to this transaction we are acquiring a strategic network of four production facilities that will enrich our product portfolio with TAD technology and create the conditions to significantly strengthen and support our growth in North America -explains Luigi Lazzareschi, Sofidel's ceo-. We welcome the employees of Clw Tissue: we look forward to working together with them to improve the quality of the proposal for our customers”.