Twin Rivers Paper Company, a leader in specialty paper products, announced the sale of its Pine Bluff, Arkansas unbleached kraft paper mill to American Kraft Paper Industries, an affiliate of global industrial group American Industrial Acquisition Corporation (AIAC).
The move comes after six years of ownership by Twin Rivers, during which they invested heavily in modernizing the Pine Bluff mill and expanding its product offerings. However, the sale reflects a strategic shift for Twin Rivers.
"This decision allows us to prioritize the growth of our core specialty paper business," stated Tyler Rajeski, President of Twin Rivers Paper.
The company believes AIAC's acquisition approach, focused on investment in acquired assets, will ensure long-term success for the Pine Bluff operation and its workforce. A seamless transition for employees, customers, and suppliers is a key focus during the handover.
L. M. Levie, Chairman of AIAC, sees the acquisition as a significant expansion opportunity. "This strategic move allows us to substantially grow our production and distribution of unbleached kraft paper," Levie commented.
The Pine Bluff mill will be renamed American Kraft Paper Industries and collaborate with AIAC's Canadian Kraft Paper Industries. This combined presence aims to deliver superior service, efficiency, and reliability to domestic and international packaging customers.
Financial advisors Citizens M&A Advisory represented Twin Rivers in the transaction.
With this sale, Twin Rivers strengthens its commitment to specialty papers, while American Kraft Paper Industries gains a new production facility and a strategic partnership to fuel its growth. Both companies look forward to a successful future.
