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Rubber and Wood May 13, 2022 09:05:52 PM

Kruger Announced Acquisition of Domtar's Kamloops Pulp Mill

Paul Ploumis
ScrapMonster Author
The acquisition will help Kruger to secure the supply of high-quality pulp for some of its paper mills in Quebec.

Kruger Announced Acquisition of Domtar's Kamloops Pulp Mill

SEATTLE (Scrap Monster): Kruger announced plans to acquire Domtar’s Kamloops Pulp Mill. The transaction is expected to close during the second quarter of 2022, subject to customary closing conditions, including the approval of the Commissioner of Competition. The acquisition will help Kruger to secure the supply of high-quality pulp for some of its paper mills in Quebec.

According to news release, Kruger Specialty Papers Holding L.P. has entered into a definitive share purchase agreement, by which it will purchase all the issued and outstanding shares in the capital of Domtar-owned legal entity DKP Pulp ULC.

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Upon successful completion of the acquisition, Kruger will strengthen its presence in British Columbia, providing significant employment opportunities, in addition to offering essential products. The acquisition will raise the company’s total number of employees in the B.C. region to 700, including those in the New Westminster tissue plant and Kruger Energy's Zeballos Lake Hydro Plant.

The acquired Kamloops Pulp Mill produces high quality Northern Bleached Softwood Kraft pulp and unbleached softwood Kraft, serving customers in North America and Asia.

Scotiabank acts as exclusive financial advisor to Kruger, whereas McCarthy Tétrault LLP is the legal advisor for the transaction.

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