BD White Birch Investment LLC has completed the acquisition of the assets of White Birch Paper Company, which includes three Canadian mills: Stadacona in Quebec, Masson in Gatineau and F.F Soucy in Riviere-du-Loup.
The sale marks the successful culmination of a restructuring process that has lasted almost three years.
Peter Brant, CEO of the new White Birch, said, “I am pleased that the conclusion of the restructuring process, together with significant new investment by the Brant family and the Black Diamond-led investment group, has resulted in a healthier, better capitalized company.”
Christopher Brant, president of the new White Birch, thanked the various parties that have helped the company through the restructuring process. “Without the contributions of our dedicated employees, our loyal customers and suppliers, our partners at Black Diamond and the support of the Quebec government, the new White Birch’s future would not be nearly as bright as it is today.”
BD White Birch Investment manufactures newsprint, directory paper and paperboard, with mills located in Canada and the United States, and is the second largest newsprint manufacturer in North America.
Black Diamond Capital Management is an independently owned, credit focused alternative investment firm.