Marcal Paper Mills Announces Completion of Ownership Transaction
2008-06-16 22:15:33 -
- Marcal M.J. Jolda, 201-703-6419 Marcal Paper Mills, Inc. ("Marcal" or "the Company") today announced the closing of the previously announced transaction, whereby a newly formed entity to be known as Marcal Paper Mills, LLC, along with its subsidiaries, will acquire substantially all of the assets of Marcal.
The Company also announced today that Tim Spring has been named Chief Executive Officer of Marcal Paper Mills, LLC, effective immediately. Mr. Spring brings extensive senior executive-level consumer packaged goods and turnaround experience.
"We are very pleased to complete this transaction," comments Mr. Spring, "which we believe will enable us to leverage Marcal's strong brand and eco-friendly product line to restore the Marcal brand as a leader in the industry for the benefit of its customers, employees and its hometown communities."
James D'Agosta, newly appointed Senior Vice President of Sales, added, "We are entering a new and exciting phase and we look forward to building on the extraordinary history of the Company. Marcal is now recapitalized and revitalized, ready and able to successfully execute several growth and product improvement strategies. I look forward to partnering with our key customers to provide consumers with the environmentally-friendly products that they have come to expect from Marcal".
MJ Jolda, newly appointed Senior Vice President of Marketing says, "Marcal has an established 75-year history as an environmentally-conscious manufacturer of consumer products. Our employees and suppliers are particularly passionate about creating innovative paper solutions that result in the economical production of high-quality products with a minimal impact on the environment. I believe this long-standing commitment to recycling is not only socially and environmentally responsible, but will be one of our great competitive advantages as well."
"Our supplier base has been terrific. We have spoken to virtually every supplier over the last two weeks and are overwhelmed by the strength and support of our vendors" stated Karen Buynie from the Procurement Department.
Biography - Tim Spring
Tim Spring is a consumer package goods turnaround specialist. His 25-year career has spanned a wide range of consumer products, with a concentration in Food, Household Cleaners, and HBA/OTC products. Mr. Spring was most recently the CEO of Craft House, Inc., a private equity investment in the craft industry. Prior to that, he led the post-bankruptcy turnaround on Vlasic(R), a division of Pinnacle Foods. Earlier in his career, Mr. Spring revitalized some very familiar brands names, including French's(R), Tegrin(R), RedHot(R), Bagel Crisps(R), Easy-Off(R), and Airwick Stick-Ups(R). During the last eight years Mr. Spring has led revitalizations and turnarounds for private equity firms on premier portfolio brands including Log Cabin(R), Open Pit(R), and Mrs. Butterworths(R). Mr. Spring holds a B.A. in Psychology/Business from SUNY and an M.B.A. in Marketing from Pace University.
About Marcal Paper Mills, LLC
Marcal Paper Mills, LLC, together with its operating subsidiaries, manufactures and distributes bath tissue, kitchen towels, napkins and facial tissue. Marcal Paper Mills, LLC assumed ownership of the business operations of Marcal Paper Mills, Inc., one of the nation's best known brands, in May 2008. Marcal Paper Mills, LLC employs over 800 people in its Elmwood Park, New Jersey and Chicago, Illinois manufacturing operations. The company, which is committed to sustainable manufacturing, produces finished paper products distributed to retail outlets for home consumption and to distributors for away-from-home use in hotels, restaurants, hospitals, offices and factories.
Tim Spring Named Chief Executive Officer of Marcal Paper Mills,
LLC
