Neenah Paper Inc. has agreed to buy Fox River Paper Co., an Appleton producer of premium fine papers, for an undisclosed price.
Alpharetta, Ga.-based Neenah Paper said Tuesday that it signed a definitive agreement to purchase the Fox Valley Corp., the parent company of Fox River Paper. Neenah Paper has Wisconsin paper mills in Neenah and Whiting, along with mills in Michigan, Canada and Germany.
Fox River is a U.S. producer of premium fine papers with brands including Starwhite, Sundance, Esse and Oxford. It has a mill and converting center in Appleton and mills in Ripon, Calif.; Housatonic, Mass.; and Urbana, Ohio.
The transaction has been approved by the boards of both companies and is subject to customary closing conditions and approval by Fox River shareholders.
Neenah Paper (NYSE: NP) expects the transaction to close in the first quarter.
Neenah CEO Sean Erwin said the acquisition strengthens the company's fine paper business with added scale, better products for growth and a broader array of premium brands. Neenah Paper's brands now include Classic, Environment, Munising LP and Gessner.Business Journal of Milwaukee
