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PGI reaches agreement to acquire Dounor
PGI Specialty Materials announced today that its subsidiary has reached an agreement to acquire Dounor SAS, a French manufacturer of materials used in hygiene, healthcare and industrial applications.
The agreement to acquire Dounor follows PGI's acquisition of Fiberweb in 2013 and Providencia in 2014 as PGI continues to execute on its growth strategy in specialty materials for infection prevention, personal care and high-performance solutions. Based in Neuville en Ferrain, France, Dounor's strong business in hygiene, particularly adult care products, will expand PGI's offerings in this area and enable PGI to better deliver its innovative solutions to customers in Europe.
"Dounor has grown into one of the top providers in materials for adult care and other hygiene applications in the European region, making the company an ideal addition to our business," said J. Joel Hackney, Jr., CEO, PGI. "This acquisition will enable us to better serve our customers in the hygiene market, particularly in northern Europe, and we are excited about the new opportunities this will create for our growth."
PGI expects to close the acquisition of Dounor in the second quarter of 2015.
"We are honoured to join the PGI family," said Christophe Willot, president, Dounor. "Doing so means we join a leading provider of specialty materials in the world, and becoming a part of this growing company will allow us to provide our innovative products to a broader set of customers in the markets PGI serves."
26th March 2015