M&A - Clearwater Paper Corp

Form Type: DEF 14A

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525066733

Filing Summary: In 2024, Clearwater Paper Corporation underwent significant strategic changes, marking a transformational year. The company completed the acquisition of a paperboard manufacturing facility in Augusta, Georgia, from Graphic Packaging, enhancing its national footprint and increasing its production capacity to 1.4 million tons of SBS annually. In the same year, Clearwater Paper sold its tissue business for $1.06 billion, with net proceeds used to reduce debt and strengthen its balance sheet. Despite this positive momentum, challenges in the SBS industry, characterized by supply exceeding demand and reduced operational rates, prompted the company to implement a cost-reduction strategy aiming to save between $40 and $50 million annually. Furthermore, Clearwater Paper reaffirmed its commitment to sustainability and safety, achieving a 75% reduction in significant injuries and receiving awards for its sustainability initiatives. The notice for the annual stockholders' meeting set for May 8, 2025, was circulated to stockholders on or about March 28, 2025, outlining key decisions that would be voted on, including director elections and a compensation advisory vote.

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Form Type: 10-K

Filing Date: 2025-02-24

Corporate Action: Acquisition

Type: Update

Accession Number: 000150433725000005

Filing Summary: Clearwater Paper Corporation filed its annual Form 10-K for the fiscal year ended December 31, 2024, reporting significant business transformations. The company has repositioned itself to focus solely on the paperboard packaging industry following two major transactions, including the acquisition of a paperboard manufacturing facility in Augusta, Georgia, for $700 million. This acquisition allows Clearwater to enhance its production capacity and integration within the market. The business’s sustainability strategy continues to evolve to meet market demands for renewable and recyclable materials. Financial performance metrics indicate the company held a market value of approximately $788.5 million of common stock as of June 30, 2024, with a total of 16,175,161 shares outstanding. The report also emphasizes challenges related to operational integration and market competition, reflecting on specific forward-looking statements about growth strategies, operational efficiencies, and financial condition going forward.

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