After the Italian Ritrama and the Mexican IP Venus The Italian paper manufacturer Fedrigoni has acquired a third company in the adhesives sector in just 18 months: Acucote, located in North America in Graham, North Carolina.
Acucote, a family-owned company with 142 employees, develops, manufactures and distributes self-adhesive materials in the U.S. market with sales of over $70 million.
"The acquisition of Acucote represents another step in our growth strategy in the increasingly promising self-adhesive materials sector, where we are determined to strengthen our market leadership position." said Marco Nespolo, CEO of the Fedrigoni Group, which bills itself as the world's third-largest player in the field of self-adhesive materials. "And it's in line with our desire to diversify our geographic penetration, strengthening our position throughout the Americas and particularly in the United States."
According to Fedrigoni, the US market is "extremely interesting" . The Italian company already has a presence there with a label materials plant located in California and the digital, offset and wide-format printing media distributor GPA, which it acquired in 2015.
According to the latest annual review, the group generated 19 percent of its 2019 revenue in the United States and 35 percent in Europe.
This new entity allows the group to "to increase production capacity directly on site", from "deliver across the United States." to tie "very good supply partnerships" and operate "cutting-edge technologies, including in terms of environmental sustainability", according to Fulvio Capussotti, executive vice president of the Fedrigoni Self-Adhesives division.
