Domtar strengthens portfolio with acquisition of Iconex Paper’s North American POS receipt business

NORTH AMERICA – Domtar Corporation has announced the successful acquisition of Iconex Paper from Atlas Holdings, a move that significantly enhances its presence in the point-of-sale (POS) receipt paper market. 

Iconex Paper specializes in converting thermal paper parent rolls into POS receipt rolls for food service, retail, pharmacy, and financial services industries.

Operating across five North American locations—Arizona, Kansas, Tennessee, Virginia, and Mexico—the company’s footprint aligns seamlessly with Domtar’s thermal paper production capabilities. 

Steve Henry, President of Paper and Packaging at Domtar, emphasized the strategic importance of the acquisition, “Receipt products that consumers use every day—ATM, gas pump, food service, and retail receipts—originate from thermal paper manufactured at our West Carrollton, Ohio, facility.

“This acquisition positions us to ensure customers experience operational and supply chain excellence with a fully integrated North American receipt paper business.” 

Henry added, “This strategic acquisition underscores our commitment to paper-based products and the paper industry’s sustainability. We welcome Iconex Paper to the Domtar family and look forward to strengthening the POS paper business jointly.” 

Iconex Paper will continue to operate under the leadership of its current president, Mike Rapier, who expressed enthusiasm for the partnership, “This new chapter with Domtar presents exciting opportunities for growth and innovation in the paper receipt production industry. Together, we aim to provide enhanced solutions for our customers.” 

Atlas Holdings completes exit from Iconex

Atlas Holdings, the former owner of Iconex Paper, announced its full exit from the Iconex investment following the sale to Domtar.

This transaction concludes Atlas’ involvement with Iconex after the recent sale of its label solutions business and European operations, Iconex Labels, to M2S Group in August 2024. 

Atlas acquired Iconex in 2016, transforming it from an underperforming division of NCR Corporation into a leader in the North American receipt market.

Through strategic scaling and operational improvements, Atlas elevated Iconex Paper and its label business into top-performing entities. 

Michael Sher, Partner at Atlas, reflected on the transformation, “Iconex is a testament to Atlas’ ability to identify potential in perceived decline. We’ve built a high-performing organisation that outpaces competitors by strengthening core operations and expanding into growth markets.” 

Craig Gunckel, CEO of Iconex, highlighted the journey’s success, “It has been an extraordinary experience leading Iconex alongside Atlas.

“Through data-driven strategies and strategic acquisitions, we scaled capabilities and built a business with lasting value. I’m proud of what we’ve accomplished together.” 

This acquisition strengthens Domtar’s portfolio while marking the end of Atlas’ nearly decade-long transformative investment in Iconex. It solidifies the company’s legacy as a leader in the paper-based receipt and label industries.

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