Italy's Fedrigoni to acquire specialty adhesives firm Ritrama
Italian manufacturer of specialty paper for self-adhesive labels, packaging and fine printing, Fedrigoni Group, has announced that it is to acquire Ritrama, an Italian multinational self-adhesive products manufacturer. The acquisition is part of Fedrigoni's ongoing strategy to focus on specialty papers.
According to reports in Reuters, the deal is worth nearly €300-million. It will be the second acquisition by Verona-based Fedrigoni, best known for its historic Fabriano fine art paper brand, since it was acquired by Bain Capital in early 2018. The purchase will further strengthen the company's position within the European pressure-sensitive label market, in which it operates through the Arconvert and Manter brands.
The acquisition will also combine Fedrigoni's expertise in wine label production, for which it is the world's second largest producer, and food and household product labels, with Ritrama's advanced self-adhesive technology.
Ritrama operates manufacturing facilities in Italy, Spain, the UK, Chile and China. The Rink family, founders of Ritrama, will maintain ownership of and continue to manage Ritrama’s North American operations. The company, a global producer of labels for beverages, pharmaceuticals and personal care products, will complement Fedrigoni's product portfolio.
"Strong synergies exist between the businesses of Arconvert and Ritrama," said Marco Nespolo, CEO of the Fedrigoni Group. "Both companies operate with excellent results on largely complementary markets, with Arconvert specialising in self-adhesive labels manufactured from specialty papers, and Ritrama focusing on the production of self-adhesive plastic films."
"Our pressure-sensitive labels segment, which is already showing very positive results, will now be larger, broader and more competitive in a market that continues expanding in all segments and geographies, on a global level. Ritrama has a healthy, truly Italian, yet international, DNA, just like the Fedrigoni Group."
"I am very proud of this transaction," said Tomas Rink, president of Ritrama, "which ensures the Ritrama Group and its organisation will continue to grow in a healthy and rapidly-expanding industrial reality, the Fedrigoni Group. Ritrama and Fedrigoni share common values."
"This operation marks another important step for Fedrigoni," said Ivano Sessa, managing director of Bain Capital and Chairman of Fedrigoni Holding, "which fits our strategy of consolidating the Group’s presence in the fields of specialty papers and pressure-sensitive labels, both organically and through acquisitions of international operators such as Ritrama."
The transaction is expected to close in the first quarter of 2020, and is subject to certain closing conditions.
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