Consumables
Fedrigoni acquires 70% of a NewCo that will produce thermoformed cellulose inner solutions
Tuesday 31. August 2021 - Fedrigoni, a global leader in specialty papers and self-adhesive materials, strengthens its strategy of converting packaging products from plastic to paper, one of the cornerstones of the Groups sustainability objectives for 2030.
The agreement is with Tecnoform, a company in Colorno (Parma) that specialises in thermoformed elements for packaging. With this sixth acquisition in less than three years,
Fedrigoni, global leader in the production and sale of special papers for packaging, publishing and graphics, and of premium self-adhesive labels and materials, acquires 70% of a NewCo that will produce inner trays for boxes and gift cases for luxury items made entirely of thermoformed, biodegradable and environmentally friendly cellulose instead of plastic.
The recently signed agreement is with Tecnoform, a company from Colorno (Parma) which will retain the remaining 30% of the capital, and which specialises in the production of trays, displays and internal elements for packaging, made from plastic and other materials, used in various industrial sectors such as cosmetics, fashion, toys and food. The NewCo is a spin-off of the Tecnoform business dedicated to the development of innovative packaging products to replace plastic with thermoformed cellulose through a proprietary technology to process cellulose fiber and certified and patented packaging solutions that are highly innovative and environment-friendly. It will initially focus on the cosmetics and high-end perfumes sectors. The applications, however, are endless, ranging from luxury items to technology, from jewellery to watches and food and e-commerce packages, with Fedrigoni aiming to expand this business to reach a turnover of 25 million in the next 2-3 years.
“The agreement with Tecnoform is a new milestone on the path towards innovation to offer the market higher performing paper replacements for plastic. This is one of the main strands of our sustainability policy for which we have set challenging objectives for 2030,” stated Marco Nespolo, CEO of the Fedrigoni Group. “The luxury packaging sector is extremely relevant to us and we believe we can make the difference in guiding it, on a global level, towards environmentally friendly solutions, thanks to the know-how acquired so far, the synergies with the other activities in our ecosystem and the possibility of globalising business, expanding it from Europe to America and Asia”.
Alessandro Groppi, CEO of Tecnoform, also expressed his satisfaction. “Our two companies are extremely well-matched” he explained, “and Fedrigonis experience in the luxury packaging sector, its knowledge of processes and manufacturing, added to the global dimension, will be crucial in helping us to develop new and highly innovative solutions”.
This is the sixth acquisition in less than three years for Fedrigoni, after four in just 18 months in the Self-Adhesives sector, where the Group has strengthened its position as the third player in the world. From the start of 2020 the company acquired Italian Ritrama, Mexican IP Venus, American Acucote and Ri-Mark, one of the main distributors in Mexico, of which it already held 30%, confirming itself as a global leader in self-adhesive materials.