Resolute buys Atlas Paper from Peak Rock Capital for $156 mln

Resolute Forest Products Inc (NYSE, TSX: RFP) has acquired Atlas Paper Holdings Inc, a Miami, Florida-based manufacturer of tissue products, including recycled and virgin paper grades. The purchase price was US$156 million, including working capital. The seller in the deal was U.S. private equity firm Peak Rock Capital. Atlas, formed out of the combination of Accurate Paper Holdings and Atlas Southeast Papers, was bought by Peak Rock in 2013. Montréal-based Resolute, which provides a range of forest products, said the acquisition gives it "an immediate position in the multi-billion-dollar North American consumer tissue market."

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