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Tufco Technologies to be acquired by Griffin Holdings

By Tim Wright | January 10, 2014

Contract wet wipes converter Tufco Technologies, Inc. has agreed to be taken over by Griffin Holdings, LLC. Griffin will acquire Tufco for $6.07 per share in cash, representing a purchase price of about $26 million. The price per share represents a premium of 19% over the closing share price on December 20, 2013. Tufco’s board unanimously approved the transaction. Bradford Venture Partners, L.P., Tufco's largest stockholder, has agreed to tender its 14.9% of the company.