Italian specialty paper manufacturer Fedrigoni is further expanding its business and has now announced its third acquisition this year. The company reports having acquired certain assets of US fine and specialty paper manufacturer Mohawk Fine Papers.
Mohawk produces specialty papers for luxury packaging and digital printing. The firm will become part of the Fedrigoni Special Papers division.
Fedrigoni founded a NewCo to carry out the transaction. The sales process for Mohawk was initiated following a period of significant financial distress that affected the US company in the past months, Fedrigoni explained. The transaction cleared the NewCo from existing indebtness.
The takeover is to strengthen Fedrigoni's distribution of specialty fine papers in the North American market. The two companies are not unknown to each other. In September 2022, they entered an industrial partnership and in August last year Mohawk became the distributor of Fedrigoni papers for North America.
Fedrigoni has closed two other transactions this year. In January, the company announced the acquisition of an equity stake in IoT (Internet of Things) agency Sharpend in England. The group also took over Arjowiggins China last month, which produces translucent papers.
