Italy’s Fedrigoni group has recorded a turnover of EUR 2.21 billion in 2022, along with investments of over EUR 80 million. The group concluded six acquisition deals in the US, Turkey, Spain, and France during the FY.
May 17, 2023
The Fedrigoni Group, one of the world’s leading players in premium labels and self-adhesive materials, specialty papers for luxury packaging, and other creative solutions, closed 2022 with a turnover of EUR 2.21 billion and investments of over EUR 80 million. The group recorded an increase of 37 percent in turnover over the last year. The investments increased by nearly EUR 20 million in comparison to EUR 60 million in 2021.
This growth has affected the company’s business units repositioned in the last four years towards premium product segments, namely labels and self-adhesive materials, and specialty papers. The labels and self-adhesive materials recorded an increase of 31 percent with a turnover of EUR 1,307 million. The specialty papers for luxury packaging and other creative solutions recorded an increase of 43 percent with a revenue of EUR 904 million.
Mr. Marco Nespolo, CEO of Fedrigoni Group, commented, “2022 was a year of profitable and responsible growth, despite the unstable geopolitical environment and supply chain disruptions. An agile business model, focus on innovation, constant transformation and the involvement of our people have enabled us to confirm our position as the world’s leading manufacturer of wine labels and specialty papers for luxury packaging.”
In 2022, the group continued its acquisition plan, with six deals in the US, Turkey, Spain, and France, bringing the total number of M&As in the last four years to 12.
In the self-adhesives segment, Spain’s Divipa, France’s Tageos, specializing in RFID solutions, and Turkey’s Unifol have been acquired, allowing the group to expand into the vehicle wrapping film segment. For specialty papers, an agreement with the American company Mohawk has been made to expand its presence in the US. Spain’s Guarro Casas and France’s Zuber Rieder have also been acquired. In 2023, two important agreements have been initiated. One is an industrial partnership with a specialized producer of translucent papers in China and the second is the acquisition of an R&D Centre in Grenoble, France. The two establishments were formerly part of the Arjowiggins Group, which filed for administration last September.
Mr. Nespolo further stated, “Our solid business plan and our agility and ability to adapt production to demand allowed us to limit the impact. We are now seeing positive signals from the market: energy and raw material costs are finally coming down. The end markets we serve – luxury, wine & spirits, pharmaceuticals, etc. – are performing well, and we are gaining market share in all sectors. For these reasons, we remain optimistic regarding a gradual recovery of the economic situation over the course of this year.”