The list of potential buyers for the Condat paper mill has become clearer. After weeks of rumors and expressions of interest from the industry, only three takeover bids were finally registered with the Bordeaux Commercial Court.
The paper mill at Le Lardin-Saint-Lazare in the Dordogne is in receivership since October 20, 2025, following the decision of its shareholder Lecta the court ruled that the Spanish group's bid to sell the glassine label paper plant had to be submitted within a very short timeframe. Bidders had until December 24 to submit their offers, and on January 14, following the arrival of a new potential buyer, the court granted an extension to allow the buyers to refine their proposals.
And while many expressions of interest have been forthcoming in recent weeks, including several well-known names in the sector âeuros the French printing group Riccobono, which is contesting the rumor, and the Italian paper manufacturer Fedrigoni âeuros, only three takeover bids have been registered with the court.
The first is Finesta, a Czech group specializing in fossil fuels and renewable energies, which wants to continue producing glassine for the paper industry and develop waste recovery with the boiler.
The second is Société de Participation de la Braye (SPB), a French fund manager who has invested in the site of the former Arjowiggins paper mill in the Sarthe region, transforming it into a single-use glove and mask factory.
And the third is Xianhe, a Chinese paper manufacturer specializing in the production of functional paper for the tobacco industry, which has only been interested in the site for a few days.
The three proposals differ in the number of employees they would retain. Today, the glassine production plant has 202 employees.
Finesta assures that it will keep all jobs. With this very ambitious promise, he has won the support of the CGT.
SPB would take on around 20 employees, while Xianhe, the Chinese group, would take on around 60.
The next step is a further examination of the bids by the Bordeaux Commercial Court on February 4. Between now and then, candidates have a window of opportunity to consolidate their bids.
