Ahlstrom, a global leader in fiber-based specialty materials, has entered into a binding agreement to acquire Stevens Point, a high-end solutions provider in food, consumer packaging and e-commerce applications, from Pixelle Specialty Solutions. In parallel, Ahlstrom will create a dedicated Performance Materials cluster to sharpen its strategic focus and optimize growth opportunities. These two transformational steps are part of Ahlstrom’s ongoing commitments to innocation and customer satisfaction.

The acquisition of this best-in-class business includes premium-quality products, long-standing customer relationships and the experience and expertise of its 260 people, representing a significant milestone in Ahlstrom’s growth transformation. Based in Wisconsin, the business adds unique capabilities that will support customers’ transition to sustainable packaging and strengthen Ahlstrom’s leadership and footprint in its Food & Consumer Packaging segment. This step aligns with the company’s long-term growth objectives and will deliver more value to its customers and stakeholders.

The acquisition is highly complementary to Ahlstrom’s existing product portfolio. Stevens Point’s superior technical expertise include state-of-the-art finishing and coating capabilities that will significantly enhance the company’s ability to meet growing customers’ needs. 

“The acquisition of the Stevens Point operation is a pivotal step in our journey to enhance our technology offerings and expand our solutions and market coverage,” says Konraad Dullaert, EVP Food & Consumer Packaging and Chief Innovation Officer, Ahlstrom. “This business and its highly experienced, top-class team will significantly strengthen our capabilities, enabling us to deliver innovative and sustainable packaging solutions to our customers in North America and beyond. We are excited about the opportunities this acquisition brings and are committed to leveraging these advancements to drive growth.”

The transaction will be financed through a committed $600 million senior secured financing package, with any excess available for general corporate purposes. Pro forma for the transaction, the Net Leverage is expected to be 4.1x based on fiscal 2024 combined financials.

Completion of the transaction is subject to regulatory approvals and other customary closing conditions, with closing expected in the second quarter of 2025.