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Fedrigoni acquires some assets of Mohawk Papers

The Fedrigoni Group buys certain assets of Mohawk Fine Papers, the company it entered into an industrial partnership with last September to strengthen the distribution of specialty fine papers in the North American market. The transaction was finalized through a NewCo incorporated by Fedrigoni to acquire Mohawk‘s assets in a sale process initiated by a financial institution. This follows a period of significant financial distress that affected U.S.-based Mohawk Fine Papers. The transaction entirely cleared the new company from existing indebtedness, allowing it to preserve the majority of existing jobs, industrial activities and customer relationships. 

Founded in 1931, Mohawk is a family-owned company that produces specialty papers for designers, brands, and printers.

“The sharing of core values such as solid know-how and a focus on innovation and environmental impact reduction led to the acquisition of this firm, which became part of the Fedrigoni Special Papers division and represents an important piece in the group’s overseas growth strategy,” said the company in a news release.

“This is our third M&A this year (after SharpEnd in UK and Arjowiggins China), a relevant step forward to enhance our premium product offerings to customers in the U.S. in specialty papers for luxury packaging and fine digital printing,” added Marco Nespolo, CEO at Fedrigoni Group. “Thanks to Mohawk’s entry into our group we will now be able to produce and distribute to customers a wide range of Fedrigoni high value-added papers directly in North America, and conversely expand access to Mohawk specialty papers internationally. We will thus increasingly support the strategies of our customers who favour nearshoring models in place of the traditional global purchasing-oriented approach, to reduce their environmental impact and minimize the risks of supply chain disruption.”