Fedrigoni SpA recently announced that it has completed its acquisition of Acucote Inc. Headquartered in Graham, N.C., and with annual sales of over $70 million, Acucote develops, manufactures, and distributes self-adhesive materials. The company has 142 employees.
Acucote was founded 34 years ago by John Leath, who owns it together with his family. The company operates one plant and four distribution centers. With this third acquisition in 18 months, after the Italian Ritrama and the Mexican IP Venus in the self-adhesives sector, Fedrigoni reports that it is strengthening its position as a global player for self-adhesive materials.
“The acquisition of Acucote represents a further step in the growth strategy in the increasingly promising self-adhesive materials sector, where we are determined to expand our position as market leader, and it is in line with our wish to diversify our geographical penetration, strengthening our position across the Americas and in particular in the United States,” said Marco Nespolo, CEO of Fedrigoni Group.
“The new entry to the Group will allow us to increase production capacity directly on site and to distribute throughout the United States, also thanks to the integration with our subsidiary company, GPA, to create excellent procurement alliances and to count on cutting-edge technologies, including in terms of environmental sustainability,” said Fulvio Capussotti, executive vice president of the Fedrigoni Self-Adhesives division.
According to Leath, “I am leaving my company and my people in good hands, which was my main goal. Fedrigoni is an international group and a solid, rapidly expanding industrial reality, in which I am sure Acucote will be able to grow and consolidate significantly in the coming years.”