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Neenah Paper Buys Southworth Brands

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On Thursday, Neenah Paper (NYSE: NP  ) announced that it has completed its purchase of certain premium business paper brands from the Southworth Company -- including the Southworth brand itself.

Financial terms of the purchase were not disclosed, but Neenah did advise in a press release that the brands' combined annual sales approximate $20 million. The company further noted that the brands of paper it is purchasing are retailed at major customers, including Staples (NASDAQ: SPLS  ) , Office Depot (NASDAQ: ODP  ) , Office Max (NYSE: OMX  ) , and Walmart (NYSE: WMT  ) .

Neenah's Fine Paper division, into which these products will be incorporated, is the smaller of the company's two divisions, but by far the more profitable. In fiscal 2011, the most recent period for which complete data is available, the division earned 14.4% pre-tax margins on $275 million in revenues.

Neenah Paper shares closed at $30.94 Thursday, up 2.8%, ahead of the news.

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Rich Smith

I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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4/29/2016 4:02 PM
NP $65.09 Down -0.15 -0.23%
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