Cascades Acquires Two Tissue Mills

Cascades Inc. reached an agreement through its subsidiary Perkins Papers Ltd., to acquire the Consumer Products Division of Plainwell, Inc. for $64.2 million. The Consumer Products Division consists of two tissue mills, located in Eau Claire, Wis. and in Ransom, Pa. The two mills have a combined annual capacity of close to 110,000 tons of tissue paper made mostly of recycled fiber.

The tissue mills specialize in the manufacturing and selling of a wide range of bathroom paper, paper towels, napkins, and facial tissue mainly under private label for the American retail market.

If the transaction is approved, it is anticipated that a closing will occur no later than October 31.