Posted by myown01 2 years ago In:

business development

Does anyone know when the deal might happen? Or ...

Does anyone know when the deal might happen? Or when Cellu Tissue may be going public? See http://tinyurl.com/yl3hhys. Anyone who knows the history of the company?

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5 Answers

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Happyman Answered:

Well, a deal was made back in year 2007 where Cellu Tissue Deal acquired Atlantic Paper and Foil?

Posted 2 years ago

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Nickname Answered:

The Atlantic Paper and Foil sale date was announced 2008. I was part of financial team on the deal, and the Gabbay family made a great deal, they walked away too much just for the sale of the company. Based on the subsidiary companies and real estate deals they are probably worth 3-4 times more than the reported in that deal memo and public fillings.

Posted 2 years ago
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Happyman Answered:

I’ve been a former employee of Atlantic Paper and Foil in the Hauppauge NY for the Gabbay Family who owned it back then, and they treated us like family. I was saddened to hear of the sale, but the new company was good to me too.

Posted 2 years ago
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myown01 Answered:

Hi! I just want to share a great site that I found with this posting on the net.
" The net proceeds of $245.7 million from the issuance of the 2014 Notes were used to primarily redeem the 2010 Notes and fund the contingent earnout payment made on August 28, 2009 in conjunction with the APF Acquisition."
Which means the Gabbay Family probably netted about $250,000,000 on the deal.

Posted 2 years ago

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Happyman Answered:

For a small company that was quite small in the tissue industry there were some interesting oddities about Atlantic Paper and Foil. They were mainly a tissue converting and pastiches company, employing 300 people. But yet they have bought and sold two private jets since 2006, and own 1.5 million Sq feet of industrial space in three different states.