“The agreement with Mohawk is a further element in our growth strategy in a market with excellent prospects such as specialty papers, especially for luxury packaging, where we intend to consolidate our global primacy. Many synergistic opportunities are also present for our self-adhesive materials division, which will expand its leading position in premium labels for the wine market in the US", comments Marco Nespolo, CEO of Fedrigoni Group. "This is an important step forward to reinforce our geographical penetration in the United States, where we will directly produce and distribute high-value-added papers, leveraging all possible industrial and commercial synergies with our Group. We will also better support the ESG strategies of our clients, especially those in the luxury sector by giving them the option of moving to nearshoring rather than global purchasing."
“We are pleased to build upon our family's legacy of manufacturing and distributing paper recognized and trusted around the world for the many uses of our customers”, states Thomas O'Connor, Jr. CEO of Mohawk. "Like Mohawk, the Fedrigoni Group is focused on expanding the specialty papers market. Our partnership will allow us to continue our commitment and focus on the development of increasingly high-performing, innovative, and sustainable solutions."
Further strategic alignment comes from the Crane and Fabriano brands, which produce stationery products that inspire consumers to write, sketch, and paint on some of the most beautiful papers in the world. The two brands will actively participate in this new collaboration and will mutually explore opportunities to grow market share.
Mohawk also recently closed a new financing agreement with CIT Northbridge Credit, which supports and strengthens Mohawk’s plans for continued growth. Within the frame of their manufacturing partnership, Fedrigoni participated in the new financing through a convertible instrument. The alignment between Mohawk and Fedrigoni carries the potential to formalize a strategic transaction over the next several years.