Clearwater Paper Corporation (NYSE:CLW) will look for acquisitions. Arsen Kitch, President and CEO said, "That deleveraging positioned us really well for what's next for Clearwater Paper. And last week, we announced an acquisition.

And it's a great strategic step for Clearwater Paper. We're acquiring or we're planning to acquire Graphic Packaging, Augusta paperboard mill. It's a facility with about 600,000 tons of capacity, which raises our paperboard capacity from 800,000 approximately to 1.4 million tons or just over 70%.

And our strategy is becoming pretty clear. We are -- we're building a premier independent supplier of paperboard to North American converters. We think it's a great space.

We know that space very well. We're leaning into where we think we're strong and we have great potential in the future. We will look at other acquisitions as well in the future and other investments to better service those customers.

But in the short to medium term, we're going to be heavily focused on deleveraging our balance sheet after this acquisition".