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Pro-Gest acquires tissue producer Papergroup

10 May 2019 − 

Pro-Gest continues its growth, this time in the tissue sector. The company acquired insolvent producer of tissue products Papergroup in Italy.

Italian integrated packaging and tissue manufacturer Pro-Gest is in the process of acquiring Italian tissue manufacturer Papergroup. Papergroup, which operates sites near Lucca in Tuscany, has been insolvent since July last year and was auctioned off on 7 May.

Pro-Gest reportedly was the only interested party and bought the company at auction for the minimum price of €14.42m, excluding the value of stocks. Up to ten days after the auction there is the opportunity to outbid Pro-Gest's offer.

Papergroup operates a total of three facilities in Capannori near Lucca, an area traditionally home to many tissue manufacturers.

Find the full article and more information on Papergroup and the transaction in EUWID Pulp and Paper issue no 20/2019, which will be available to our e-paper and print subscribers as of 15 May.

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