Bain Capital to Acquire Italian Specialty Paper Producer Gruppo Cordenons
Gruppo Cordenons produces a wide range of of specialty paper products that includes classic felt marked, laid and embossed paper, metallic and iridescent modern paper.
May 28, 2018 - Bain Capital Private Equity, through Fedrigoni Holding Ltd, has entered into a definitive agreement to acquire Gruppo Cordenons, a leading international manufacturer of high-end specialty papers for luxury packaging and premium publishing applications.
Financial terms of the deal were not disclosed.
The transaction remains subject to customary regulatory approvals.
Generating around EUR 89 million sales in 2017, Gruppo Cordenons produces high-end specialty graphic papers, as well as industrial filtration paper, and distributes its products in more than 90 countries. Gruppo Cordenons has a portfolio of more than 2,500 SKUs, including metallic and iridescent papers, an innovative marked, laid and embossed papers.
Bain Capital said that Gruppo Cordenons will be acquired and managed as an independent company. However, over time, Fedrigoni Group shareholders see a significant opportunity to share best practices, increase operations know-how and improve service and innovation by strengthening its range of high value-added special papers and key relationships with customers, supplemented by a brand that is widely recognized on international markets, where Gruppo Cordenons generates almost 70% of its turnover.
Ivano Sessa, Managing Director of Bain Capital Private Equity and Chairman of Fedrigoni Holding, Ltd, stated, "In a worldwide market that presents very interesting growth patterns for specialty papers, the acquisition of Gruppo Cordenons represents a step forward for Bain Capital in its objective to create an Italian champion and leading global player in high-end specialty paper."
Gruppo Cordenons produces a wide range of of specialty paper products that includes classic felt marked, laid and embossed paper, metallic and iridescent modern paper. To learn more, please visit: www.gruppocordenons.com.
SOURCE: Bain Capital Private Equity