Fedrigoni strengthens US presence with Acucote buy
Thursday, June 24, 2021
Paper manufacturer Fedrigoni has continued its growth strategy in the premium self-adhesive products sector with the acquisition of US manufacturer and distributor Acucote.
The deal, the fourth made by the Italian group since it was itself acquired by Bain Capital four years ago, was completed on Monday (21 June).
The company said the purchase gives it a new plant and a stronger commercial presence in the US, where it was already present with its own operations in California and the distributor GPA.
Headquartered in Graham, North Carolina, and with one plant and four distribution centres, Acucote has a turnover of over $70m (£50m) and employs 142 staff. The business was founded 34 years ago by John Leath, who owns it together with his family.
Fedrigoni's self-adhesives division specialises in wine labelling and also produces high-tech self-adhesive labels and films for food, household, logistics, pharma, beverage, and personal care.
The group said Acucote holds “an excellent position in the pharma, architectural graphics, retail and logistics segments, making strategic production, distribution and procurement synergies possible”.
Fedrigoni Group chief executive Marco Nespolo said: “The acquisition of Acucote represents a further step in the growth strategy in the increasingly promising self-adhesive materials sector, where we are determined to expand our position as market leader.
“And it is in line with our wish to diversify our geographical penetration, strengthening our position across the Americas and in particular in the United States.”
Fulvio Capussotti, executive vice president of the Fedrigoni self-adhesives division, added: “The new entry to the group will allow us to increase production capacity directly on site and to distribute throughout the United States, also thanks to the integration with our subsidiary company, GPA, to create excellent procurement alliances and to count on cutting-edge technologies, including in terms of environmental sustainability.”
Acucote founder Leath said he was leaving his company and people “in good hands, which was my main goal”.
“Fedrigoni is an international group and a solid, rapidly expanding industrial reality, in which I am sure Acucote will be able to grow and consolidate significantly in the coming years,” he added.
Founded in 1888, Fedrigoni employs 4,000 staff globally and distributes to 130 countries.