Neenah Paper (NYSE: NP) announced the purchase of the branded premium paper portion of Wausau’s Fine Paper division on Jan. 31, 2012.
“The acquisition of Wausau brands strengthens the breadth of our existing FinePaper business with added scale in the marketplace, prospects for growth in new channels such as retail, and the opportunity to provide our customers with better service,” said Julie Schertell, president, Neenah Fine Paper.
The transaction includes the following brands:
* Premium fine paper brands ASTROBRIGHTS®, ASTROPARCHE®, ROYAL LINEN®, ROYAL FIBER®, ROYAL LAID®, ROYAL COMPLEMENTS®, ROYAL COTTON®, ROYAL MARBLE®, ROYAL METALLICS®, ROYAL RESOURCE®,WAUSAU® BRIGHT WHITE and CREATIVE COLLECTION™.
* Exclusive license rights for a portion of Exact® brand specialty business, including EXACT BRIGHTS®, EXACT® COATED, EXACT DIGITAL®, EXACT® INDEX, EXACT® TAG and EXACT® VELLUM BRISTOL.
Schertell added, “Astrobrights® is the market leading brand in the bright, vivid color segment of our market. We are excited to add this strong brand to our portfolio, as well as the complimentary textures in the Royal brand family. I’m very pleased with our customers’ responses following our initial announcement, as well as the support we have received from the Wausau organization throughout the initial transition phase. As of today, we are taking orders on our new brands and we’re well-positioned for a smooth transition with our customers.”
Neenah’s primary focus in the coming months will continue to be the integration effort.