Miami Toilet and Tissue Paper Manufacturer Sold for $156M

Miami-based Atlas Paper Holdings, a producer of toilet and tissue paper, was acquired for $156 million by Resolute Forest Products.

The Montreal-based company (NYSE: RFP) bought Atlas Paper from Peak Rock Capital, of Austin, Texas. It was owned by Peak Rock Capital since 2013.

“This is a step-change acquisition that provides us with an immediate position in the multi-billion-dollar North American consumer tissue market,” said Richard Garneau, president and CEO of Resolute Forest Products.

It’s certainly a product that most people can’t live without.

Atlas Paper manufactures toilet paper, facial tissues, napkins and paper towels. The company recovers over 50,000 tons of office and printer waste a year to convert into paper products. Its brands include Green Heritage, Bunny Soft, Harmony, Windsor Place and Eversoft.

The company has a headquarters/distribution center in Miami and a paper mill in Hialeah. It also has facilities in Tampa and Sanford.

Resolute Forest Products said the expertise of the people at Atlas Paper will help the company open a recycled tissue manufacturing plant in Calhoun, Tennessee.

“We are excited about becoming part of a larger, diversified company that views the tissue market as a cornerstone of its future,” stated Jim Brown, president and CEO of Atlas Paper Holdings. “This is a win-win: For Atlas Paper, we will benefit from pulp supply efficiencies and we will offer a wider range of products to our customers once the Calhoun tissue project is up and running.”

Resolute Forest Products said Atlas Paper is expected to generate annual earnings of $23 million, before interest expenses income taxes, depreciation and amortization. The buyer used BMO Capital Markets as its financial advisor and Akerman LLP as its legal advisor for the deal.

Read the full publication on the South Florida Business Journal website.