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3 August 2021
Cascases Selling All European Operations
KINGSEY FALLS, QUEBEC—
Cascades is selling all its boxboard operations in Europe to focus on North America. Cascades says it will sell its 57.6 per cent equity interest in Reno De Medici S.p.A. to Apollo Global Management. Cascades has had operations in Europe for 35 years. “Strategically, exiting our Boxboard Europe segment is aligned with our plan to focus on strengthening the competitive positioning of our core North American packaging and tissue papers business operations,”
says Mario Plourde, President & CEO of Cascades. “To this end, proceeds from the divestiture will support ongoing strategic modernization initiatives .” Cascades at one time owned Rolland Papers and Graphics Paper Merchant( now part of Spicers Canada ) . The transaction is expected to be completed in the last quarter of the year.
Exiting the European market after 35 years
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Europe's second largest recycled box board manufacturer
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