Boardroom Alpha
10-K primary document
MAGN · Annual Report (Form 10-K) · Filed November 25, 2025

Magnera Corp10-K exhibit

exhibit22-1.htm

Exhibit 22.1
LIST OF SUBSIDIARY GUARANTORS
 
 
Guaranteed Securities
 
The following securities (collectively, the “Magnera Senior Secured Notes”) issued by the respective entities listed below were outstanding as of September 27, 2025.
 
Description of Notes
Issuer
7.25% First Priority Senior Secured Notes due 2031 (the “7.25% Notes”)
Treasure Merger Sub II, LLC, a Delaware limited liability company and wholly-owned subsidiary of Magnera Corp. (“Treasure Merger Sub”)
4.75% First Priority Senior Secured Notes due 2029 (the “4.75% Notes”)
Magnera Corp., a Pennsylvania corporation (the “Company”)
 
Obligors
 
As of September 27, 2025, the obligors under the Magnera Senior Secured Notes consisted of the Company, as issuer of the 4.75% Notes and as a guarantor of the 7.25% Notes, Treasure Merger Sub as issuer of the 7.25% Notes, and the Company’s subsidiaries listed in the following table:
 
Name
Jurisdiction
Obligor Type
AVINTIV INC.
Delaware
Guarantor
AVINTIV Acquisition LLC
Delaware
Guarantor
AVINTIV Specialty Materials, LLC
Delaware
Guarantor
Magnera Film Products Acquisition Company, Inc. (f/k/a Berry Film Products Acquisition Company, Inc.)
Delaware
Guarantor
Magnera Film Products Company, Inc. (f/k/a Berry Film Products Company, Inc.)
Delaware
Guarantor
Chicopee, LLC
Delaware
Guarantor
Dominion Textile (USA), L.L.C.
Delaware
Guarantor
Fabrene, L.L.C.
Delaware
Guarantor
Fiberweb, LLC
Delaware
Guarantor
Glatfelter Advanced Materials N.A., LLC
Delaware
Guarantor
Glatfelter Composite Fibers NA, Inc.
Delaware
Guarantor
Glatfelter Digital Solutions, LLC
Delaware
Guarantor
Glatfelter Mt. Holly LLC
Delaware
Guarantor
Glatfelter Sontara Old Hickory, Inc.
Delaware
Guarantor
Old Hickory Steamworks, LLC
Delaware
Guarantor
PGI Europe, LLC
Delaware
Guarantor
PGI Polymer, LLC
Delaware
Guarantor
PHG Tea Leaves, Inc.
Delaware
Guarantor
Treasure Merger Sub II, LLC
Delaware
Issuer
Magnera Aschersleben GmbH (f/k/a Berry Aschersleben GmbH)
Germany
Guarantor
Magnera Dombühl GmbH (f/k/a Berry Dombühl GmbH)
Germany
Guarantor
Magnera Europe GmbH (f/k/a Berry Europe GmbH)
Germany
Guarantor
Fabrene, Inc.
Canada
Guarantor
Fiberweb Berlin GmbH
Germany
Guarantor
FIBERWEB GEOSYNTHETICS LIMITED
UK
Guarantor
Fiberweb Holdings Limited
UK
Guarantor
FIBERWEB LIMITED
UK
Guarantor
Glatfelter Berlin GmbH
Germany
Guarantor
Glatfelter Caerphilly Limited
UK
Guarantor
Glatfelter Dresden GmbH
Germany
Guarantor
Glatfelter Falkenhagen GmbH
Germany
Guarantor
GLATFELTER GATINEAU LTÉE
Canada
Guarantor
Glatfelter Gernsbach GmbH
Germany
Guarantor
Glatfelter Lydney, Ltd.
UK
Guarantor
Glatfelter Services GmbH
Germany
Guarantor
Glatfelter Steinfurt GmbH
Germany
Guarantor
HHS German Holdings GmbH
Germany
Guarantor
PGI ACQUISITION LIMITED
UK
Guarantor
Terram Limited
UK
Guarantor
Glatfelter Industries Asheville, Inc.
North Carolina
Guarantor
Providencia USA, Inc.
North Carolina
Guarantor
Magnera Corporation
Pennsylvania
Guarantor / Issuer
 
Pledged Security Collateral
 
As of September 27, 2025, the obligations under the Magnera Senior Secured Notes were secured by pledges of the capital stock of the following affiliates of the Company:
 
Issuer
Owner
Number of Issuer Certificate
Number and Class of Equity Interest
Percentage of Equity Interests Pledged
GW Partners, LLC
Glatfelter Corporation (to be renamed Magnera Corporation)
N/A
N/A; Limited liability company interest
100%
Glatfelter Holdings, LLC
Glatfelter Corporation (to be renamed Magnera Corporation)
2
N/A; Limited liability company interest
100%
Glatfelter Advanced Materials N.A., LLC
Glatfelter Corporation (to be renamed Magnera Corporation)
N/A
N/A; Limited liability company interest
100%
Glatfelter Mt. Holly LLC
Glatfelter Corporation (to be renamed Magnera Corporation)
N/A
N/A; Limited liability company interest
100%
Glatfelter Digital Solutions, LLC
Glatfelter Corporation (to be renamed Magnera Corporation)
N/A
N/A; Limited liability company interest
100%
Treasure Merger Sub II, LLC
Glatfelter Corporation (to be renamed Magnera Corporation)
N/A
N/A; Limited liability company interest
100%
Glatfelter Composite Fibers NA, Inc.
Glatfelter Corporation (to be renamed Magnera Corporation)
1
1,000 shares of common stock authorized; 500 shares issued
100%
PHG Tea Leaves, Inc.
Glatfelter Corporation (to be renamed Magnera Corporation)
3
1,000 shares of common stock
100%
Glatfelter Sontara Old Hickory, Inc.
PHG Tea Leaves, Inc.
2
100 shares of common stock
100%
Glatfelter Industries Asheville, Inc.
PHG Tea Leaves, Inc.
8
16,000 shares of common stock
100%
Glatfelter Luxembourg S.À.R.L
PHG Tea Leaves, Inc.
N/A
12,501 shares
65%
Glatfelter Gatineau Ltée
PHG Tea Leaves, Inc.
C-3
42,396,408 shares
100%
Glatfelter Holding (Luxembourg) AG
PHG Tea Leaves, Inc.
N/A
3,229 shares
65%
Glatfelter Russia, LLC
PHG Tea Leaves, Inc.
N/A
1,666,000 shares
65%
Glatfelter Russia, LLC
Glatfelter Composite Fibers NA, Inc.
N/A
25,500
65%
Berry Film Products Company, Inc.
Treasure Merger Sub II, LLC
Lost.
Lost.
100%
Berry Film Products Acquisition Company, Inc.
Berry Film Products Company, Inc.
Lost.
Lost.
100%
Berry Holding Company do Brasil Ltda.
Berry Film Products Company, Inc.
Lost
Lost
65%
Tyco Acquisition Alpha LLC
Berry Film Products Company, Inc.
N/A
N/A; Limited liability company interest
100%
Rafypak, S.A. de C.V.
Berry Film Products Company, Inc.
Lost.
Lost.
65%
AVINTIV INC.
Treasure Merger Sub II, LLC
Lost.
Lost.
100%
AVINTIV Acquisition LLC
AVINTIV INC.
N/A
N/A; Limited liability company interest
100%
AVINTIV Specialty Materials, LLC
AVINTIV Acquisition LLC
N/A
N/A; Limited liability company interest
100%
PGI Polymer, LLC
AVINTIV Specialty Materials, LLC
N/A
N/A; Limited liability company interest
100%
Fabrene, Inc.
AVINTIV INC.
Lost.
Lost.
100%
HHS German Holdings GmbH
AVINTIV INC.
Lost.
Lost.
65%
Chicopee, LLC
PGI Polymer, LLC
N/A
N/A; Limited liability company interest
100%
Providencia USA, Inc.
Chicopee, LLC
02
122,031,984,000 shares
100%
Dominion Textile (USA), L.L.C.
Chicopee, LLC
N/A
N/A; Limited liability company interest
100%
PGI Europe, LLC
Chicopee, LLC
N/A
N/A; Limited liability company interest
100%
Fabrene, L.L.C.
Chicopee, LLC
N/A
N/A; Limited liability company interest
100%
Chicopee Asia, Limited
Chicopee, LLC
1
10,000 shares
65%
Chicopee Holdings B.V.
PGI Europe, LLC
Lost.
Lost.
65%
PGI Spain S.L.U.
PGI Europe, LLC
Lost.
Lost.
65%
Fiberweb Geosynthetics Limited
PGI Europe, LLC
Lost.
Lost.
65%
Fiberweb, LLC
PGI Europe, LLC
N/A
N/A; Limited liability company interest
100%
Old Hickory Steamworks, LLC
Fiberweb, LLC
N/A
N/A; Limited liability company interest
100%
PGI Nonwovens (Mauritius)
PGI Polymer, LLC
3A
2 shares
65%
Fiberweb Holdings Limited
PGI Europe, LLC
Lost.
Lost.
65%
Terram Limited
PGI Europe, LLC
Lost.
Lost.
65%
PGI Acquisition Limited
PGI Europe, LLC
4
65 ordinary share
65%
 
 

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