Sofidel has finalized the acquisition of the assets of Royal Interco, LLC ("Royal Paper") for which it had entered into an Asset Purchase Agreement (APA) based on a "stalking horse" bid.
The agreement between Sofidel and Royal Paper - a recognized player in the US in both the At-Home and Away-from-Home segments - was announced on April 9.
All necessary approval and closing procedures have been now completed and satisfied.
Three facilities in Arizona - the paper mill in Gila Bend (with an annual production capacity of 61,000 metric tons) and two converting facilities in Phoenix - and one converting facility in Duncan, South Carolina, officially become part of Sofidel's production footprint.
With four new facilities, Sofidel further strengthens its production footprint in the North American market, which today accounts for 50% of the Group's total revenue.
Sofidel is one of the world's leading manufacturers of paper for hygienic and household use, known particularly in Italy and Europe for its Regina brand.
