Fedrigoni sets its sights on eco-friendly luxury packaging

Fedrigoni has acquired a 70% stake in Tecnoform, a newco based in Colorno (Parma) that will produce biodegradable and environmentally friendly thermoformed cellulose solutions for luxury packaging (cartons and inner trays for boxes), initially aimed at the high-end cosmetics and perfumes sector.

With this latest acquisition, Fedrigoni, a global leader in the specialty papers and self-adhesive materials sector, strengthens its strategy of converting packaging products from plastic to paper, one of the cornerstones of the Group’s sustainability objectives for 2030.

“The agreement with Tecnoform is a new milestone along the path towards innovation with the aim of offering the market increasingly high-performance paper alternatives to plastic,” commented Marco Nespolo, CEO of the Fedrigoni Group. “We have a strong interest in the luxury packaging sector and believe we can make a real difference in guiding it globally towards environmentally friendly solutions thanks to our expertise, synergies with other businesses within our ecosystem and the ability to globalise the business by expanding it from Europe to America and Asia.”

Fedrigoni aims to expand this business to reach a turnover of €25 million in the next 2-3 years and extend the fields of application to the luxury goods, food and e-commerce packaging sectors.

This is Fedrigoni’s sixth acquisition in less than three years following four completed in just 18 months in the Self-Adhesives sector, where the group has strengthened its position as the world’s third largest player. Since the beginning of 2020, the company has acquired the Italian firm Ritrama, Mexico’s IP Venus, the US company Acucote, and Ri-Mark, a major Mexican distributor in which it already held a 30% stake.