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Pixelle Acquires Verso Paper Mills to Boost Position in Speciality Papers Business
Wednesday 12 February 2020

12 February 2020 – Pennsylvania, US-based paper company Pixelle Specialty Solutions has completed its acquisition of speciality papers mills in Maine and Wisconsin from Verso Corp (NYSE: VRS) to become a speciality papers producer with more than 1m tons in annual production, the company said.
Pixelle has industry-leading positions in multiple speciality paper grades including release papers, thermal labels, food and beverage labels, food packaging papers, inkjet papers, casting liners, book papers, carbonless and forms, security papers, envelope and converting papers, and various niche products.
Pixelle now operates a four-mill speciality paper system with facilities in Maine, Ohio, Pennsylvania and Wisconsin.
Three have on-site pulp mills. Collectively the mills deploy 12 paper machines and produce more than 1m tons of paper annually.
Credit Suisse and Citizens Bank served as financial advisors and Cravath, Swaine and Moore served as legal advisor to Pixelle on the transaction.
Date Published: 12/02/2020
Target: Speciality papers mills in Maine and Wisconsin
Country: USA
Deal Size: 400m (USD)
Sector: Paper/Packaging/Office Supplies
Type: Corporate acquisition
Status: Closed
Vendor: Verso Corp
Buyer: Pixelle Specialty Solutions,  
Buyer Advisor: Credit Suisse , Citizens Bank , Cravath, Swaine and Moore
Terms of the deal were not disclosed