Paper Excellence-backed Domtar completed the acquisition of Resolute for $2.7bn.

Paper Excellence-backed Domtar, a global diversified manufacturer of pulp and specialty, printing, writing, and packaging papers, completed the acquisition of Resolute, a firm engaged in the forest products industry, for $2.7bn. "With this transaction, Resolute will accelerate its growth as it gains access to more tools, capital and opportunities to pursue our ambitions with the combined resources of the Paper Excellence Group. This is good for employees and the communities where Resolute operates because we will continue to grow in a manner consistent with our core values of accountability, caring and trust that we hold dear. Together, we will form a stronger and more resilient, diversified forest products company, positioned to compete on a truly global scale, with a shared commitment to being a trusted business partner, dedicated to sustainability and to caring for its people and communities," Remi G. Lalonde, Resolute President and CEO.