Glatfelter Closes Dresden Papier Acquisition

Glatfelter has a new asset in its portfolio. The company announced it has finalized the acquisition of Germany-based Dresden Papier, which according to the American firm is "the leading global supplier of nonwoven wallpaper base materials."

Glatfelter paid $210 million for the company, a purchase that was financed through a combination of cash on hand and monies from a revolving credit facility. It expects Dresden Papier to be immediately accretive to earnings at an annual rate of around $0.25 per share.

In the press release announcing the development, Glatfelter said it believes the global nonwoven wallpaper market will grow at a minimum compound annual growth rate of 10%.

The article Glatfelter Closes Dresden Papier Acquisition originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Glatfelter, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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