Adapack acquisition to expand WS labels capacity

Adapack, backed by AtriA Capital Partenaires, has acquired Papeteries du Souche from International Paper. Adapack is a newly-formed French company aiming to become one of the world leaders in the field of one-side coated label papers for the beverage industry. It is managed by two industry specialists benefiting each from 20 years of experience in speciality papers: Jean-Pierre Brice was previously managing director of the Fine Papers division of Arjo Wiggins and Philippe Lavaud was previously chairman of the Label and Packaging division of Ahlstrom.

Adapack’s shareholders include AtriA Private Equity Fund II and the two managers of Adapack, Jean-Pierre Brice and Philippe Lavaud. With revenues of €61 million in 2003, Papeteries du Souche is one of the European market leaders for one-side coated papers for labels used by the beverage industry, notably high value-added papers used for wet-strength labels (WS). Papeteries du Souche also specializes in one-side coated paper for metallized labels. Founded in 1820, the company maintains a paper mill located in North-Eastern France in the Vosges region and markets its products over 150 countries. Papeteries du Souche employs 270 people.
This transaction is the first investment of AtriA Private Equity Fund II, the €196 million closed fund managed by AtriA Capital Partenaires. In view of the expected development of Adapack, especially in the field of papers for WS labels, AtriA Capital Partenaires has capitalized Adapack with a large equity portion, enabling the company to undertake a significant investment programme.