Glatfelter has completed the acquisition of Jacob Holm for aggregate consideration of approximately US$302 million including the extinguishment of Jacob Holm’s existing debt and other adjustments. This transaction was funded through a new $500 million senior unsecured notes issuance by Glatfelter.
Jacob Holm & Sons AG, Basel/Switzerland, is a global manufacturer of premium quality spunlace nonwovens for critical cleaning, high-performance materials, personal care, hygiene and medical applications. The addition of Jacob Holm will increase Glatfelter’s scale and diversification into product categories with high-performing and innovative spunlace nonwoven technologies and advanced plant-based sustainable solutions. Glatfelter thus also takes over 4 additional manufacturing sites, one converting operation, and 6 sales offices located in the Americas, Europe, and Asia, and adds approx. 760 employees worldwide.
Glatfelter Corp., Charlotte, NC/USA, is a leading global supplier of engineered materials. The company’s high-quality, innovative and customizable solutions are found in tea and single-serve coffee filtration, personal hygiene and packaging products as well as home improvement and industrial applications. Glatfelter’s has annual net sales of approx. $1.4 billion with over 3,300 employees worldwide.