According to two trusted sources that are in connection with Edizione Holding and Investindustrial, the two companies joined forces in order to offer a bid to acquire Fedrigoni. Edizione Holding is owned by the Benetton family while Investindustrial is known as an equity firm owned by private individuals. The two have negotiated and is now making an offer to purchase Fedrigoni which is based in Italy and is known as a paper maker. The bid is said to amount to 600 million in euros or 675 million in U.S. dollars.
The two investors have already started to make dealings with the paper firm through business meetings, added by the same sources. One of the sources disclosed that if the business acquisition went on ahead then both investors will have a stake of 50 per cent each on the paper firm in the coming few months.
When asked for a comment regarding the ongoing negotiations, the paper maker refused to give any comments.
The decision made by Benetton to be one of the investors is the company’s way of diversifying their investments. The family is the leading name when it comes to clothing lines and they also have a hand in Autogrill which as a travel catering business. Not to mention that they are also investors in Atlantia an airport as well as motorway operator.
It was only last year that the Benettons were able to make a deal and get 1.3 billion in euros for selling World Duty Free, a known airport carrier all over the globe. They have now decided to invest into other industries thus its choice is one of the Italian firms that have the greatest potential of making it into other countries as well. All of this was released in a statement by the chairman of Edizione Holding, Gilberto Benetton.
Fedrigoni have various products and one of which is the special paper that are also used in making the banknotes euro. It was in 2014 that the company planned on making it on the list of the stock market in Milan but failed to do so. At the same year, the company which is based in Verona also aimed to have a market value of 560 million in euros. For paper packaging supplies, Paper Mart is your go to store.