Atlas Holdings LLC has entered into an asset purchase agreement to acquire Thunder Bay Pulp and Paper Mill from Resolute Forest Products Inc. on May 26, 2023. Upon closing the transaction, Thunder Bay Pulp and Paper Mill will operate as a standalone company. The transaction is subject to the satisfaction or waiver of closing conditions, including obtaining required regulatory approvals and expected to close in the second half of 2023.

Kent Ramsay, who has served as General Manager of the Mill since 2019, has been named President of Thunder Bay Pulp and Paper. BMO Capital Markets acted as financial advisor and Stikeman Elliott LLP acted as legal advisor to Resolute FP Canada Inc. Gillian Stacey, Dale Osadchuk, Diana Bahous and Jonathan Kyriacou of Davies Ward Phillips & Vineberg LLP acted as legal advisor to Atlas Holdings LLC.