Twin Rivers expands specialty paper portfolio with Potsdam Specialty Paper acquisition

USA – Twin Rivers Paper Company has acquired Potsdam Specialty Paper Inc. (PSPI), expanding its position in the specialty paper market while securing the future of the Potsdam paper mill in New York State.

Financial details of the transaction were not disclosed.

The acquisition, supported by the State of New York, is expected to preserve approximately 70 jobs and stabilize operations at the facility, which had reportedly faced the risk of closure.

PSPI specializes in the manufacture of latex, acrylic and other saturated base papers used in high-performance industrial and commercial applications.

Its engineered paper grades serve markets including durable labels, book covers, premium retail packaging and wide-format digital printing substrates.

With the deal, Twin Rivers will add an estimated 26,000 tonnes per annum (tpa) of production capacity to its operations, further strengthening its specialty papers portfolio and customer reach across North America.

PSPI chief executive officer Mike Huth said the acquisition would enable the company to combine its technical expertise with Twin Rivers’ manufacturing resources and innovation capabilities.

“We’re excited about the ability to build upon our mutual legacy of papermaking excellence, enhance the value we bring to existing Potsdam customers with the expertise and resources of Twin Rivers Paper, and serve new customers,” Huth said.

Twin Rivers CEO Tyler Rajeski noted that the acquisition aligns with the company’s long-term strategy of expanding innovation-driven specialty paper solutions.

“PSPI’s strong focus on product development and customer collaboration aligns closely with Twin Rivers’ core competencies and builds upon our commitment to innovation, operational excellence, and customer-focused growth,” Rajeski stated.

As part of the arrangement, New York State committed financial support aimed at maintaining manufacturing activity and supporting capital upgrades at the facility.

The state approved a US$1.82 million regional council capital fund grant alongside up to US$180,000 in performance-based Excelsior Jobs Programme tax credits linked to employment targets.

The funding will support delayed capital improvements and essential equipment maintenance at the mill.

New York governor Kathy Hochul described the investment as a strategic opportunity to strengthen manufacturing employment in upstate New York.

The acquisition reflects broader consolidation trends in the global paper and packaging industry, where producers are increasingly investing in specialty and value-added paper grades amid growing demand for durable, sustainable and premium packaging materials.

The latest move follows Twin Rivers’ 2024 divestment of its Pine Bluff, Arkansas unbleached kraft paper mill to American Kraft Paper Industries, an affiliate of American Industrial Acquisition Corporation after years of investment aimed at improving production efficiency and expanding product offerings.

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