Fedrigoni Group, a manufacturer of special papers and self-adhesive materials, has completed the acquisition of certain assets of US-based company Mohawk Fine Papers.
Established in 1931, Mohawk is a family-owned business also known for producing speciality papers.
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The company reportedly shares Fedrigoni’s commitment to innovation and sustainability, particularly in digital printing.
This shared ethos facilitated the acquisition according to Fedrigoni, integrating Mohawk into Fedrigoni’s Special Papers division and marking a step in the group’s international expansion strategy.
The transaction, the financial details and other terms of which remain undisclosed, will further reinforce Fedrigoni’s position in the North American speciality fine papers market.
It also builds on the initial manufacturing agreement signed between the two parties in September 2022.
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By GlobalDataThe acquisition was finalised by a new company established by Fedrigoni, to acquire Mohawk’s assets from a sale process initiated by a financial institution.
This move followed a period of significant financial distress for Mohawk.
Fedrigoni said that the latest transaction has effectively freed the new entity from previous debts, allowing the preservation of most jobs, ongoing industrial activities, and existing customer relationships.
The acquisition of certain assets marks Fedrigoni’s third merger and acquisition (M&A) deal in 2024.
Earlier this year, Fedrigoni acquired a minority stake in consulting company SharpEnd, as well as Arjowiggins China.
Fedrigoni CEO Marco Nespolo said: “Thanks to Mohawk’s entry into our group we will now be able to produce and distribute to customers a wide range of Fedrigoni high value-added papers directly in North America, and conversely expand access to Mohawk speciality papers internationally.
“We will thus increasingly support the strategies of our customers who favour nearshoring models in place of the traditional global purchasing-oriented approach, to reduce their environmental impact and minimise the risks of supply chain disruption.”
