Dive Brief:
- Disinfectant wipes maker Guy & O’Neill plans to cease operations and close its manufacturing facilities in Wisconsin and North Carolina by the end of January if it doesn’t secure a buyer for its assets, human resources manager Kristin Voigt told Manufacturing Dive. The company, however, has a verbal agreement with a buyer and is aiming to finalize the deal by month’s end, according to CEO and President Chris Moye.
- The company has already issued Worker Adjustment and Retraining Notification Act notices for the layoffs, which include 196 workers from its Fredonia, Wisconsin, plant and headquarters and 102 workers from its Reidsville, North Carolina, factory. The closures are due to “current economic conditions,” the Dec. 23 WARN letters stated.
- The job cuts would include Moye, who Voigt said has been in the role since January 2024. Other top executives that could lose their jobs include the company’s CFO and chief innovations officer, according to the Wisconsin WARN letter.
Dive Insight:
Guy & O’Neill is owned by private equity firm Centre Partners, which acquired the manufacturer for an undisclosed amount in 2018.
At the height of the COVID-19 pandemic, the hand sanitizer and disinfectant wipes maker expanded its Wisconsin footprint in 2021 by adding a warehouse. The following year, Guy & O’Neill acquired Israel-based Albaad’s wipes Reidsville facility, according to an October 2022 press release.
Center Partners put the wet wipes manufacturer up for sale in the fall and a buyer was set to acquire Guy & O’Neill, Voigt said. However, the buyer pulled out because Guy & O’Neill did not fit into its growth strategy. The company did not disclose who the buyer was.
Guy & O’Neill is hopeful it will reach a deal soon, Voigt said. She added that the manufacturer has been transparent with its 298 employees about the company’s status.
“Our people have worked so super hard that we're really hopeful that all their hard work is really going to pay off and we're going to find someone to keep us open,” Voigt said. “The fight’s not over yet.”
