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APPLETON, WI-Fox River Paper has agreed to buy acquire the Gilbert Paper Co. business and selected assets from its parent, Mead Corp. Gilbert’s paper mill, located in Menasha, WI, will be shut down by Mead at the time the acquisition is completed, and the property will be put on the selling block.

With this acquisition, Fox River Paper Co., a wholly-owned subsidiary ofprivately-held Fox Valley Corp. of Appleton, WI, will produce and sell all of the Gilbert Paper Co. products as part of a separate branding strategy. As a result of this sale, Mead will have a 20% interest in the combined company.

The acquisition is expected to be completed by Nov. 30. The sale and relatedmill closure will result in Mead taking a pretax charge of about $24 million.

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