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Wausau Paper to sell Mosinee, Rhinelander mills

8:30 PM, Mar. 21, 2013
Wausau Paper will sell its mill in Mosinee, pictured here in February 2012, and one in Rhinelander.
Wausau Paper will sell its mill in Mosinee, pictured here in February 2012, and one in Rhinelander.
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Wausau Paper Corp. plans to sell its specialty paper business, along with paper mills in Mosinee and Rhinelander, for $130 million to a company with a history of buying up and then investing in failing companies.

Wausau Paper announced Thursday in a statement that it has signed a non-binding letter of intent to sell the arm of its company that operates out of central Wisconsin to KPS Capital Partners L.P., a New York-based private equity firm. KPS plans to acquire another business and combine it with the mills and Wausau Paper entities it buys up.

The firm "pursues businesses facing closure" to ...

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