Domtar Corporation announced the successful acquisition of Iconex Paper from Atlas Holdings.
Terms of the deal were not disclosed.
Iconex Paper converts thermal paper parent rolls into point-of-sale (POS) receipt rolls, serving customers in industries such as food service, retail, pharmacy and financial services from its five North American locations in Arizona, Kansas, Tennessee, Virginia and Mexico.
"Receipt products used by consumers every day — such as ATM, gas pump, food service and retail receipts — begin with thermal paper manufactured at Domtar's West Carrollton, Ohio, facility," says Steve Henry, Domtar's president of Paper and Packaging. "With this acquisition, we're well positioned to ensure customers experience the operational and supply chain excellence that comes from a fully integrated North American receipt paper business."
"This strategic acquisition demonstrates our commitment as an advocate for paper-based products and the paper industry's long-term sustainability," Henry said. "We are delighted to welcome Iconex Paper to the Domtar family, and we look forward to jointly strengthening the point-of-sale paper business."
Mike Rapier, president of Iconex Paper, will continue to lead the business and report to Domtar's senior management.
"All of us at Iconex Paper recognize it's an exciting time at Domtar, and we're pleased to be a part of the growth of the business," Rapier said. "We're confident this next chapter with Domtar will enable us to develop new opportunities in the paper receipt production industry and provide greater solutions for our customers."
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