US-based speciality paper company Pixelle Specialty Solutions has entered into a binding agreement to divest its facility in Stevens Point, Wisconsin, to Ahlstrom, a manufacturer of fibre-based materials.
The deal is expected to conclude in the second quarter (Q2) of 2025, pending regulatory clearances.
Pixelle said it remains focused on offering food and consumer packaging solutions across North America and will continue to rely on its experienced manufacturing network.
Having managed the Stevens Point site since 2020, Pixelle is focused on ensuring a seamless transition for employees, customers, and stakeholders.
Pixelle president and CEO Ross Bushnell said: “We are incredibly proud of the team at Stevens Point. Their dedication and performance have been vital to the facility’s success, and we are sincerely grateful for the community’s support over the years.
“Ahlstrom is a highly respected global leader, and we’re confident they will carry forward the strong legacy and operations of the Stevens Point facility.”
Ahlstrom will collaborate with Pixelle to facilitate the handover.
Ahlstrom food and consumer packaging executive vice-president and chief innovation officer Konraad Dullaert said: “The acquisition of the Stevens Point operation is a pivotal step in our journey to enhance our technology offerings and expand our solutions and market coverage.
“This business and its highly experienced, top-class team will significantly enhance our capabilities, enabling us to deliver innovative and sustainable packaging solutions to our customers in North America and beyond.
“We are excited about the opportunities this acquisition brings and are committed to leveraging these advancements to drive growth.”
UBS Investment Bank acted as financial advisor while Ropes & Gray offered legal counsel to Pixelle on the transaction.
