Photo | Courtesy of Seaman Paper Co.
Ken Winterhalter, CEO of Seaman Paper Co.
3 hours ago
Gardner-based paper manufacturer acquires German firm
Photo | Courtesy of Seaman Paper Co.
Seaman Paper Co. headquarters
Seaman Paper Co., a Gardner-based, family-owned paper and packaging company founded in 1946, has acquired Julius Glatz GmbH, a fellow family-owned paper firm based in Germany.
The expansion sees Seaman Paper further grow its European presence following its purchase of German firm Werola Crepe in 2015 and will see approximately 240 Julius Glatz employees join the firm, according to a company press release issued Dec 17.
Terms of the deal were not disclosed.
"Glatz has been a trusted partner of Seaman Paper for many years, and as family-owned businesses, we share the same core values,” Seaman CEO Kenneth Winterhalter said in the press release. “This acquisition is the natural next step to deepen our collaboration and begin an exciting new chapter together.”
Winterhalter has led Seaman Paper since June 2020. Seaman has 1,200 employees worldwide with manufacturing locations throughout the U.S., Europe, and Asia. The company has about 500 employees at its Gardner headquarters.
“Our companies have known and respected each other for years,” Nina Ritter-Reischl, former co-owner and former managing director of Julius Glatz GmbH, said in the press release. “Seaman Paper's values align perfectly with our culture as a family-owned business. This partnership paves the way for a stable and sustainable future.”
Julius Glatz GmbH was founded in 1885 and is based in Neidenfels, Germany, a small village which is about a 80-mile drive south of Frankfurt.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
WBJ Web Partners
Most Recent
Most Recent
0 Comments