Wuppertal, 7 January 2015 – Setter GmbH & Co. Papierverarbeitung based in Emmerich, Germany, and a member of the GESCO Group, has acquired the business of Setterstix Corporation, the major US manufacturer of paper sticks located in Cattaraugus, New York, via a subsidiary. Setter and Setterstix have common origins, but have been separate companies for decades.
Setterstix produces paper sticks that are sold primarily to customers in the confectionary industry. Setterstix is the market leader in this segment in the USA. The company generates annual sales of just under €10 million and has approximately 40 employees.
This acquisition rounds out Setter’s portfolio in the US market perfectly. Until now, the company has primarily supplied customers in the personal hygiene industry with sticks for cotton buds and has been the market leader in that segment. The purchase will provide Setter with access to a new market segment in the US and will offer a production location which will help Setter expand its business in Central and South America.