Italian Tissue Maker Sofidel Agrees to Buy US-based Cellynne

July 5, 2012 (Press Release) - Today the 5Th of July 2012, Sofidel and Cellynne Corporation have announced that they have reached an agreement for the sale of the Cellynne Paper Manufacturer to the Italian paper group.

The agreement covers the acquisition of the shares of Cellynne Holdings Inc with the manufacturing facilities in Haines City (Florida), Green Bay (Wisconsin) and Henderson (Nevada).

The agreement is now going through the process of antitrust approval.

Once finalized the acquisition, Sofidel, the second largest producer in Europe of tissue (paper for hygiene and domestic use), will make its entry into the U.S. market.

The Italian Group Sofidel is one of the leading European manufacturers of paper for hygiene and domestic use. Over 40 years of history (established in 1966), the Group has 25 production sites and 27 subsidiary companies in 12 European countries (Italy, Spain, Sweden, The United Kingdom, Belgium, France, Croatia, Germany, Poland, Romania, Greece and Turkey) and more than 4400 employees. With an aggregate turnover of 1,456 million Euros (2011), Sofidel is the second largest manufacturer of tissue paper in Europe (956,000 tons – Source: EU Consulting 01/04/2012). Its flagship brand, “Regina”, is present in all major markets. Other brands are Super-Soft Softis, Le Trèfle, Sopalin, Yumy, Soft & Easy, Volare, Onda and Papernet.

Sofidel is a member of the international WWF Climate Savers program and member of UN Global Compact.

Cellynne Holdings Company, is a fully integrated paper manufacturer and a recognized leader in the industry in North America. For over 20 years Cellynne has provided flexible, value-added solutions to consumers in both the commercial (away from home) and the consumer (at home) market. Cellynne services its customer base with three manufacturing facilities strategically located throughout the United States (Florida, Wisconsin and Nevada), and produces brands such as Heavenly Soft®, Confidence® and Heavenly Choice®, manufactured with only the highest of standards of quality in the industry.

SOURCE: Sofidel