The acquisition of IP Venus in Mexico increases Fedrigoni's presence in overseas markets.
Italy's fine, security and specialty paper company Fedrigoni has completed the acquisition of Industrial Papelera Venus, a Mexican producer and distributor of self-adhesive labels and materials. IP Venus' portfolio of products also includes carbonless copy paper, carbon paper, disposable paper cups and wrapping paper for food applications.
According to Fedrigoni, IP Venus employs 100 people and has annual sales of approximately $18m. Financial terms of the deal were not revealed.
The acquisition is said to be part of Fedrigoni's strategy aimed at growing its pressure sensitive labels business and increasing the group's geographical reach. "The new entry will allow us to increase our production capacity, broaden our offer, create favourable procurement synergies, reinforce our presence in Central and South America and expand our market in the southern USA," said Marco Nespolo, CEO of Fedrigoni Group.
This article is part of our coverage on Fedrigoni and the fine and specialty paper industry in Europe.
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