Fedrigoni acquires 70 percent of NewCo

The recently signed agreement is with Tecnoform, which will retain the remaining 30 percent of the capital, and which specializes 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 developing packaging products to replace plastic with thermoformed cellulose through a proprietary technology to process cellulose fiber and certified and patented packaging options that are highly innovative and environmentally friendly. 

It will initially focus on the cosmetics and high-end perfumes sectors. The applications, however, range from luxury items to technology and food and e-commerce packages. 

Fedrigoni aims to expand this business to reach a turnover of EUR 25 million in the next two to three years.

‘The agreement with Tecnoform is a new milestone on the path towards innovation to offer the market higher-performing paper replacements for plastic,’ said Marco Nespolo, CEO of Fedrigoni Group. ‘This is one of the main strands of our sustainability policy for which we have set challenging objectives for 2030.

‘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 globalizing business, expanding it from Europe to America and Asia.’  

Alessandro Groppi, CEO of Tecnoform, added: ‘Our two companies are extremely well-matched. Fedrigoni’s 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 one of the global leaders. From the start of 2020, the company acquired Italian Ritrama, Mexican IP Venus, American Acucote and Ri-Mark, one of the leading distributors in Mexico, of which it already held 30 percent.