Fedrigoni acquires majority stake in NewCo
Fedrigoni has acquired a 70% stake in a new company that will produce inner trays for boxes and gift cases for luxury items made entirely of thermoformed, biodegradable and environmentally friendly cellulose instead of plastic.
Print Monthly Consultant Editor
Wednesday, 01 Sep 2021 08:28 GMT
This deal marks the sixth acquisition in less than three years for Fedrigoni
The acquisition forms part of an agreement with Italian business Tecnoform that specialises in the production of trays, displays and internal elements for packaging, made from plastic and other materials.
Tecnoform will retain the remaining 30% of capital in the new company, which will operate as a spin-off of the Tecnoform business.
The NewCo will develop packaging products to replace plastic with thermoformed cellulose through a proprietary technology to process cellulose fibre and certified and patented packaging solutions that are highly innovative and environment-friendly.
The company will initially focus on the cosmetics and high-end perfumes sectors, with scope to expand into luxury, technology and other markets.
This is one of the main strands of our sustainability policy for which we have set challenging objectives for 2030”
Fedrigoni chief executive Marco Nespolo comments: “The agreement with Tecnoform is a new milestone on the path towards innovation to offer the market higher performing paper replacements for plastic.
“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 globalising business, expanding it from Europe to America and Asia.”
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