Sappi is to acquire the speciality paper business of the Cham Paper Group (CPG) for CHF146.5m. The deal includes CPG’s Carmignano and Condino Mills in Italy, its digital imaging business in Cham, Switzerland, as well as all brands and know-how. The acquisition - expected to be finalised during the first calendar quarter of 2018 - will be funded through internal cash resources.
“This acquisition strengthens Sappi’s speciality paper business both in Europe and globally. It will increase profitability and unlock the significant growth and innovation potential inherent within the speciality paper market,” said Sappi CEO Steve Binnie.
The speciality paper business of CPG will continue to operate separately and independently from Sappi until clearances from the authorities are obtained.