05/15/2024
Citizens Advises Twin Rivers Paper on the Sale of its Pine Bluff Unbleached Kraft Paper Mill to American Kraft Paper Industries
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Twin Rivers Paper Company, a leading producer of specialty paper products, on the sale of its Pine Bluff mill to American Kraft Paper Industries, an affiliate of the global industrial group, American Industrial Acquisition Corporation (AIAC). AIAC is the owner of Canadian Kraft Paper Industries.
Twin Rivers Paper acquired the Arkansas-based unbleached kraft paper mill’s manufacturing and distribution business from the Mondi Group in 2018. In the six years since the acquisition, Twin Rivers has invested substantially in the Pine Bluff mill to enhance production efficiency and capacity while expanding its product offering.
“The decision to sell the Pine Bluff mill furthers Twin Rivers’ strategy of prioritizing the growth of our core specialty papers business,” said Twin Rivers Paper President Tyler Rajeski. “With AIAC’s founding principle of investing in the assets it acquires, we’re confident the Pine Bluff business and its dedicated managers and employees will realize long-term success. We are working with AIAC to ensure a seamless transition experience for our Pine Bluff employees, customers and suppliers.”
Citizens M&A Advisory Managing Director Itai Bregman said: “This transaction between two leaders in the paper and packaging industry gave us an opportunity to align our expertise with our client’s strategic vision. We look forward to seeing the continued success of both companies.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens JMP Securities, LLC, a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $220.4 billion in assets as of March 31, 2024. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and more than 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
# # #
The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.
