Domtar Inc. said it would buy U.S.-based Ris Paper Co. Inc. in a deal valued at $90 million. The transaction, expected to close this month, includes assumption of debt, issuance of Domtar common stock and payment in cash.
The company added that Ris management supports the acquisition and would continue to lead the company. The transaction still is subject to regulatory approval.
Ris, based in Kentucky, is one of the largest independent merchants of commercial printing and business papers in the United States. It operates 19 distribution branches and reported sales of $600 million last year.
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