Subsequent Event

12 Months Ended

Dec. 31, 2011

Subsequent Event

Subsequent Event

Note 17.  Subsequent Event

On January 31, 2012, the Company completed the purchase of certain premium paper brands and other assets from Wausau Paper Mills, LLC, a subsidiary of Wausau Paper Corp. ("Wausau"). Material terms of the acquisition include a cash payment of $21 million for the assets, including:

• (a)

  the premium fine paper brands ASTROBRIGHTS®, ASTROPARCHE® and ROYAL,
  
  

  (b)

  exclusive, royalty free and perpetual license rights for a portion of the EXACT® brand specialty business, including Index, Tag and Vellum Bristol,
  
  

  (c)

  approximately one month of finished goods inventory, and
  
  

  (d)

  certain converting equipment used for retail grades.

In addition, the parties entered a supply agreement under which Wausau will manufacture and supply certain products to the Company during a transition period. The acquisition was financed through the Company's existing credit facility and cash on hand.