Arches' product range is highly complementary and provides further growth opportunities for the buyer.
Ahlstrom-Munksjö Oyj and its French subsidiary Ahlstrom-Munksjö Arches, have entered into a non-binding memorandum of understanding to divest Ahlstrom-Munksjö Arches’ fine art paper business, under Arches brand, with Italian based F.I.L.A. Group, Fabbrica Italiana Lapis ed Affini S.p.A., a global player specialized in the research, design, manufacturing and sale of creative expression tools. Subject to labor consultation and finalization of discussions between the parties to sign binding agreements, the transaction is expected to be completed in the first quarter of 2020 at a debt and cash free valuation of approximately €44m. The standalone pro forma annual net sales of the fine art paper business to be divested are estimated to be approximately €13m and comparable Ebitda in excess of €4m in 2019.
Arches paper is mainly used for water color painting, art publishing, printing and writing, and digital art publishing. Paper is produced by two dedicated paper machines at the Arches plant in France where Ahlstrom-Munksjö Arches operates a total of seven paper machines, the remainder of which produce decor papers and abrasive paper backings.
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