Latest news with #Sofidel
Yahoo
09-04-2025
- Business
- Yahoo
Royal Paper Enters into Asset Purchase Agreement with Sofidel America Corp.
Files Voluntary Chapter 11 Petitions to Facilitate Sale Process Sofidel America Corp. will Serve as "Stalking Horse Bidder" in Court-Supervised Sale Process Royal Paper Receives Commitment for New Financing to Support Business Operations PHOENIX, April 08, 2025 (GLOBE NEWSWIRE) -- Royal Paper, LLC. ("Royal" or the 'Company"), a leading provider of high-quality paper products, announced today that the Company has entered into an Asset Purchase Agreement ("APA") with Sofidel America Corp. ("Sofidel"), pursuant to which Sofidel will acquire substantially all of the Company's assets. To facilitate the transaction, Royal has filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. This action is expected to provide for a quick and orderly sale of the Company's assets under Section 363 of the Bankruptcy Code, with Sofidel serving as the "stalking horse bidder" in a court-supervised auction and sale process. The agreement with Sofidel remains subject to Court approval and other customary conditions, including the receipt of any required regulatory approvals. The Sofidel APA is subject to higher and otherwise better offers received in the court-supervised process. Royal intends to move through this process while operating in the ordinary course – providing the high-quality products that its customers and partners rely on. In connection with the proposed sale transaction, Royal has received a commitment for debtor-in-possession ("DIP") financing from its existing secured lenders to support the business through the sale process. The Company intends to pay vendors, suppliers, and other trade creditors in full under normal terms for goods and services provided during the bankruptcy case. "Our team has been working diligently to strengthen our financial foundation in the face of difficult macroeconomic circumstances and other challenges facing Royal,' said Steve Schoembs, Chief Executive of Royal. "Entering into an agreement with Sofidel provides stability for our business, its customers, and our employees, while we continue to run our sale process. I want to thank our incredibly talented employees for their continued focus and hard work, and our customers, partners, and suppliers for their support." Additional information on the Company's Chapter 11 case can be found at or call our dedicated number at (888) 874-8095 (for toll-free U.S. and Canada calls) or +1 (503) 897-9037 (for tolled international calls). Royal is advised in this matter by Morris, Nichols, Arsht & Tunnell LLP as legal counsel, Novo Advisors as financial advisor, and Livingstone Partners as investment banker. About Royal PaperFounded in 1992 in Phoenix, AZ, Royal is a manufacturer and national supplier of high-quality paper products. The Company began as a family-owned business that operated a single converting line, supplying napkins and bath tissues to local retailers in Phoenix, Arizona. Since 1992, the Company has continuously evolved its production capacity to produce additional products in a broad range of configurations to a growing customer base. Today, the Company provides a full range of paper products—paper towels, bath tissues, facial tissues and napkins—across the value spectrum (from premium to value products), with manufacturing across the United States tailored to meet the specifications and standards of their customers.
Associated Press
18-02-2025
- Business
- Associated Press
Sofidel Accepts 2024 Governor's International Trade Award for Foreign Direct Investment
Duluth, MN, February 18, 2025 /3BL/ – Sofidel is proud to announce that it has been named the recipient of the 2024 Governor's International Trade Award for Foreign Direct Investment. Simone Giacomelli, representing Sofidel, accepted the award on behalf of the company during a ceremony last week. Sofidel extends its sincere gratitude to Governor Tim Walz, the Minnesota Trade Office, and all those who helped make this prestigious recognition possible. 'We are truly honored to receive this award,' said Giacomelli. 'It's a testament to our commitment to sustainable growth, high-quality products, and community investment. This recognition reflects the strength of our partnership with the state of Minnesota and the ongoing support we receive from local partners.' Sofidel's dedication to the U.S. market has been evident over the past decade, with significant investments in state-of-the-art manufacturing facilities and the creation of stable, long-term jobs. In November 2024, the company further solidified its U.S. presence with the acquisition of Clearwater Tissue Division, expanding its ability to serve customers nationwide. One of the company's most exciting projects is its ongoing expansion in Duluth, where Sofidel is adding a new production line for kitchen towels and bath tissue, along with a fully automated warehouse. The project, which began in the fall of 2024, is slated for completion by mid-2026. The Duluth expansion underscores Sofidel's continued commitment to Minnesota and the city of Duluth. This expansion aligns with Sofidel's shared vision with the state and city to foster sustainable economic growth, create rewarding opportunities for local workers, and strengthen the local manufacturing sector. As Sofidel continues to grow in Minnesota, the company remains focused on fostering innovation, sustainability, and economic prosperity for the communities it serves. About Sofidel The Sofidel Group, a privately held company, is a world leader in the manufacture of paper for hygienic and domestic use. Founded in 1966, the Group has subsidiaries in 13 countries – Italy, Spain, the UK, France, Belgium, Germany, Sweden, Poland, Hungary, Greece, Romania, and the USA - with more than 6,800 employees. A member of the UN Global Compact, the Sofidel Group considers sustainability a strategic imperative and is committed to promoting sustainable development. For more information, visit
Associated Press
12-02-2025
- Business
- Associated Press
Sofidel Partners with CHUM and Goodwill to Support Local Communities
Duluth, MN, February 12, 2025 /3BL/ – Sofidel USA is proud to announce a successful partnership with two local organizations, CHUM (Churches United in Ministry) and Goodwill, to support those in need in the Duluth community. This collaborative effort has enabled the donation of essential hygiene products to local families and individuals in need. The journey began when Sofidel's Circleville mill shipped eight pallets of Sofidel toilet tissue, hard wound towels, and kitchen towels to the Duluth Mill. Recognizing the importance of these products for residents, Sofidel reached out to CHUM, offering the donation. CHUM expressed immense gratitude for the generous gesture but quickly realized that coordinating the logistics for such a large donation would be a challenge. In response, CHUM turned to Goodwill for assistance. Goodwill, always committed to helping those in need, stepped in to offer storage space for the products and provided transportation services from Sofidel's Circleville mill to their warehouse. Once stored, Goodwill will ensure that the products are distributed to a variety of CHUM programs, including St. Francis Apartments, the Drop-In Center, and the emergency shelter program for families and individuals. 'We are incredibly grateful to Sofidel, CHUM, and Goodwill for their collaboration in helping us provide essential hygiene products to those who need them most,' said Tim Solomon, a key member of the loading team at Sofidel. 'It was a true team effort, and we are honored to have played a part in supporting our local community.' This partnership highlights the power of community collaboration and the positive impact that can be made when local organizations come together to address the needs of those facing hardship. Sofidel is committed to continuing its support of local initiatives and is proud to work alongside organizations like CHUM and Goodwill to make a meaningful difference in the lives of those in need. About Sofidel The Sofidel Group, a privately held company, is a world leader in the manufacture of paper for hygienic and domestic use. Founded in 1966, the Group has subsidiaries in 13 countries – Italy, Spain, the UK, France, Belgium, Germany, Sweden, Poland, Hungary, Greece, Romania, and the USA - with more than 6,800 employees. A member of the UN Global Compact, the Sofidel Group considers sustainability a strategic imperative and is committed to promoting sustainable development. For more information, visit
