PE-backed Twin Rivers to acquire Burrows’ paper assets

Twin Rivers Paper Co Ltd has agreed to acquire paper manufacturing assets of Little Falls, New York-based Burrows Paper Corp. No financial terms were disclosed for the deal, which is expected to close in Q4 2016. Twin Rivers, which has operations in Maine and New Brunswick, said the deal will expand its geographic footprint and product offerings, and strengthen its ability to serve customers in the lightweight packaging, publishing and label sectors. Twin Rivers was bought by Blue Wolf Capital Partners and Atlas Holdings from Brookfield Asset Management in 2013.

PRESS RELEASE

Twin Rivers Strengthens Packaging Market Position with Acquisition of Burrows Paper Mill Assets

Madawaska, Maine (November 11, 2016) – Twin Rivers Paper Company Limited announced today that it will acquire the paper manufacturing assets of the Burrows Paper Corporation, headquartered in New York. Terms of the transaction were not disclosed.

“Twin Rivers is a nimble, high quality, integrated forest products company and we are very pleased to acquire Burrows’ paper assets and welcome its skilled associates,” said Twin Rivers Chief Executive Officer Bob Snyder. “Twin Rivers is the market leader today in the lightweight packaging, publishing and label markets and this transaction strategically builds upon that foundation. It is fully consistent with our business’ focus, short and long-term.”

“This transaction is a ‘win’ for our business, the customers we serve and the communities, both current and future, that we are privileged to call home,” said Ken Winterhalter, President of Twin Rivers. “The experienced team joining Twin Rivers shares the commitment to quality, innovation and service excellence that has been our trademark at Twin Rivers.”

The transaction is expected to close during the 4th quarter of 2016. It will expand Twin Rivers’ geographic footprint and product offerings while strengthening its ability to serve a wide array of customers in the lightweight publishing, packaging, label and other technical specialty sectors. Four specialty paper machines, located at Burrows’ facilities in New York and Mississippi, will be added to Twin Rivers as a result of the acquisition.

About Burrows Paper Corporation
Burrows Paper Corporation is a long-time family-owned company that operates four paper mills and six packaging converting facilities in the U.S. and abroad. Headquartered in Little Falls, New York, with four paper mills operating in New York and Mississippi, Burrows is a leading manufacturer of lightweight specialty paper with a reputation for highly engineered products. For more information, visit www.burrowspaper.com.

Media Contact:

United States:
Dave Deger
(207) 523-2355
dave.deger@twinriverspaper.com

Canada:
Paul Black
(506) 737-2602
paul.black@twinriverspaper.com

Photo courtesy of Twin Rivers Paper Co Ltd