Netherlands-based Paper Excellence B.V. has bought the Mackenzie pulp mill for an undisclosed amount.
Forests Minister Pat Bell announced the deal this morning and said the mill would resume production this fall and maintain more than 200 jobs.
"We are very pleased to have a company like Paper Excellence establish itself in British Columbia," said Bell. "The company has maintained a high level of safe profitable production and regulatory compliance."
Paper Excellence owns a pulp mill in Meadow Lake, Saskatchewan.
The company is a subsidiary of Asian pulp and paper giant Sinar Mas, which environmental group Greenpeace recently accused of destroying Indonesian rainforest to make way for palm oil plantations.
In the last decade, the Mackenzie mill has had four different owners including the B.C. government.
The mill has been shuttered since 2008, but last fall the Mackenzie Pulp Mill Development Corp. took possession and maintained the site until a buyer could be found.