Lecta and Paperlinx have reached an agreement on the acquisition of Polyedra. The purchase price is €45m, representing over 90% of the book value of the company, according to Paperlinx.
European coated woodfree paper manufacturer Lecta is to acquire the Italian paper merchant Polyedra from the Australian Paperlinx Group. Lecta says the acquisition of Polyedra will strengthen its business in Italy by providing synergies and logistical advantages. The purchase price is €45m , says Paperlinx. The deal is pending approval by the European Commission.
Lecta Group is formed by the companies Cartiere del Garda, Torraspapel and Condat. The Group runs 13 paper machine at 9 mills in Italy, Spain and France. Lecta’s total production capacity amounts to 2 million tonnes of coated woodfree and specialty papers.