Glatfelter Corporation will pay roughly $308 million for Jacob Holm, the world’s top maker of spunlace nonwoven textiles.
Glatfelter’s expansion into appealing and complementary areas supporting the expanding wipes, healthcare, and hygiene categories will be enhanced by the purchase.
Glatfelter has announced the purchase of Jacob Holm’s Sontara company, a renowned manufacturer of completed goods for essential cleaning wipes and medical clothing. In the fiscal year ending June 30, 2021, the business earned roughly $400 million in revenue and approximately $45 million in profits, aided by significant pandemic tailwinds.
Glatfelter has announced the purchase of Jacob Holm, a spinlace and advanced fibre products firm located in Sweden. Within 24 months after closure, the firm intends to realise annual cost savings of roughly $20 million, and it is dedicated to deleveraging its financial sheet.
The agreement includes a benefit from Covid-related demand worth between $10 million and $15 million in profits. It is conditional on the fulfilment of usual closing conditions.