Ahlstrom, a global leader in high performance fiber-based materials, today announced the completion of the acquisition of Friend Group Inc., which consists of West Carrollton Parchment Company and West Carrollton Converting Company. The Group is a producer of vegetable parchment and has parchmentizing and converting operations located in West Carrollton, Ohio, the USA.
The parties have agreed not to disclose the acquisition price. Friend Group employs 162 people and has two sites in West Carrollton serving mainly the food packaging market in the USA. Net sales of the acquired entity in 2007 were USD 47 million.
The new entity is consolidated in Ahlstrom's group financials as of February 1, 2008.