Sofidel announces the agreement — an Asset Purchase Agreement (APA) — for the acquisition of certain production assets from Royal Interco, LLC (Royal Paper).
Royal Paper is a recognized player in the North American market, both in the consumer segment and away-from-home segment. Under the terms of the agreement, Sofidel will acquire four plants located in Arizona and South Carolina. Specifically: a paper mill in Gila Bend (AZ), two converting plants in Phoenix (AZ), and one converting plant in Duncan (SC). The Gila Bend paper mill has an annual production capacity of 61,000 tons.
According to the agreement, Sofidel will extend job offers to a significant portion of Royal Paper’s qualified employees and is committed to integrating these employees into its operations, ensuring continuity and stability.