Shearman & Sterling advised P. H. Glatfelter Company on its acquisition of Georgia-Pacific Steinfurt GmbH, the European nonwovens business subsidiary of Georgia-Pacific, for $185 million (subject to customary purchase price adjustments). The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of antitrust approvals.
Glatfelter, headquartered in York, Pennsylvania, is a global manufacturer of specialty papers and engineered products.
Headquartered in Atlanta, Georgia-Pacific is a wholly owned subsidiary of Koch Industries, Inc., one of the largest private companies in America. Georgia‐Pacific is a leading manufacturer and marketer of building products, tissue, packaging, paper, cellulose and related chemicals.
Georgia-Pacific Steinfurt GmbH operates a facility in Steinfurt, Germany, that produces high-quality air laid products for the table-top, wipes, hygiene, food pad, and other nonwoven materials markets, competing in the marketplace with nonwoven technologies and substrates, as well as other materials focused primarily on consumer based end-use applications.
The Shearman & Sterling team below was supported by associate Adam Hurwitz (New York-Corporate).