Paper Excellence Canada to acquire Catalyst Paper

Paper Excellence Canada has agreed to acquire Catalyst Paper Corp, a Richmond, British Columbia-based pulp and paper company. Terms weren't released. The acquisition includes Catalyst's three facilities in Crofton, Port Alberni and Powell River and its Surrey distribution centre. In a separate release, Catalyst said shareholders owning about 87 percent of its outstanding shares will vote in favour of the deal, which is expected to close no later than Q1 2019. Catalyst was taken private last year by Oaktree Capital Management, Cyrus Capital Partners and Mudrick Capital Management. Also based in Richmond, Paper Excellence oversees a group of pulp and paper companies.

DealsCanadaNorth AmericaBriefs