Acucote is Fedrigoni's third takeover in the self-adhesive business segment over the last 18 months.
Italy's producer of fine and specialty paper, labels, and self-adhesive materials Fedrigoni will strengthen its position on the US market by acquiring self-adhesive materials supplier Acucote Inc. Financial details of teh transaction were not revealed.
Acucote has a workforce of 142 and lastly generated sales of $70m. The company is headquartered in Graham, North Carolina, and runs one production plant and four distribution centres in the US.
Fedrigoni is already doing business on the North American continent through its own operations in California, the distribution subsidiary GPA, and the Mexican Industria Papelera Venus group (IP Venus) which Fedrigoni had acquired in late 2020.
Acucote is Fedrigoni's third takeover in the self-adhesive materials sector within 18 months. Reports indicate that through this investment, the Italian company has solidified its position as the sector's number three globally.
"In the last two and a half years Fedrigoni has completed five acquisitions - including those of the American company Acucote and the Mexican company Ri-Mark, which have just been completed - for a total investment of over €400m, and is now looking around for further opportunities," Fedrigoni said.
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