Neenah Paper Acquires Premium Business Paper Brands from Southworth
Feb. 1, 2013 - Neenah Paper yesterday said that it has completed the purchase of certain premium business paper brands from the Southworth Company. These brands, including Southworth®, are sold largely to major retail customers such as Staples, Office Depot, Office Max and Walmart.
The purchase was financed through the company's existing credit facility and cash on hand, but other terms of the deal were not disclosed.
Annual sales from the acquired brands are approximately $20 million, Neenah said.
“As the market leader in premium papers, this is a natural extension of our Fine Paper business. The addition of Southworth’s well-regarded brands allows us to expand our presence in the retail channel and fits with our strategy to grow in profitable niches that value image and performance,” said Julie Schertell, President - Fine Paper.
In January of 2012, Neenah purchased the branded premium paper portion of Wausau's Fine Paper division.
Neenah Paper is a leader in premium image and performance-based products, including filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. Neenah Paper is headquartered in Alpharetta, Georgia and sells products in over 70 countries worldwide from manufacturing operations in the United States and Germany. Additional information about Neenah Paper can be found at the company's web site, www.neenah.com.
SOURCE: Neenah Paper, Inc.