On December 31, 2021, Deerfield Specialty Papers completed the sale of its Canadian subsidiary, Glassine Canada, to Nordic Paper Holding AB for a preliminary purchase price of $92 million.
Nordic Paper Holding AB is a Scandinavian specialty paper producer that supplies kraft and natural greaseproof paper to over 70 countries.
Glassine Canada Inc. is a Canadian company that specializes in manufacturing greaseproof paper for food applications, based in Québec.
Osler, Hoskin & Harcourt LLP provided counsel to Deerfield Specialty Papers Inc. on behalf of the sellers with a team consisting of Niko Veilleux, Calvin Leung and Jordana Corber-Tovel (Corporate), Mark Brender, Alain Fournier, Jean-Philippe Dionne (Tax), Caroline Stephens (Real Estate), and Patrick Welsh (Environmental).