MILAN, Feb. 3 (Class Editori) - The Chinese players started the operation in the cardboard packaging sector: the Guangdong DongFang Precision Science & Technology Co. acquired 60% of the business of the Italian company BP Agnati of Vimercate (Mb) through its 100% subsidiary, Fosber Group of Lucca.
BP Agnati is active since 1930; it is specialized in the design and production of corrugated board while Fosber Group is active in the design, production and installation of complete corrugated board and machinery for corrugated cardboard. Founded in Lucca in 1978, today the Fosber group, through its Italian headquarters and its strategic branches in the United States and China, supplies complete production lines and retrofits of machinery all over the world by committing to quality and customer service.
BP Agnati, which boasts a fleet of machines installed on all continents for a decade, was acquired by the Brivio Pierino Group and changed its name to BP Agnati Srl. The company based in Lombardy generated € 40 million in 2019. In recent years, it recorded high sales, above all thanks to the development of the Quantum corrugator in 2015.
Customers who produce high quality flexographic or offset post-print packaging and digital printing, online as well have welcomed the Quantum technology. At the same time, thanks to its unique design, Quantum offers a good match with digital printing and has been appreciated also by customers active in digital printing.
“The acquisition of 60% of the shares of our business by the Fosber Group represents an extremely important moment for our company. We are positive in terms of liquidity and boast a good order portfolio, and having Fosber Group as a partner has been an important decision for the company,” explained Alberto Brivio, owner and CEO of BP Agnati, “the future of the brand in the long term as well as our products is further ensured. Research and development is at the heart of BP Agnati's business: we will continue to develop our products to guarantee our customers the best technology”.
“We welcome BP Agnati to the Fosber Group and the DongFang family,” the CEO Qiu Yezhi of the Dongfang Group wrote. “BP Agnati is a brand known all over the world. In the future, DongFang Group and Fosber Group will continue to provide BP Agnati with resources and platforms in terms of markets, products and management support. We believe that this marriage between Fosber Group and BP Agnati will be a success and will lead to a strong alliance and win-win cooperation, which will allow the DongFang Group to boost our Group's high-end intelligent equipment manufacturing business”.
“We are pleased to bring BP Agnati into the Fosber Group, in particular after the acquisition of Tiruña in 2019, in the last decade, Alberto Brivio and the team of BP Agnati have made great strides in consolidating the company's position in the European market and Asian, in particular with the Quantum corrugator”, said Massimiliano Bianchi, CEO of Fosber. “Joining the Fosber Group will allow them to expand the range of action of the machines in new markets, especially in North America, Asia and towards large multinational groups. We welcome them into our family in a market context which sees the Fosber Group to continue its significant growth”.
Scouting Capital Advisors, with the managing partner Filippo Bratta supported by Elena Montibeller, acted as exclusive financial advisor for the Fosber Group. Davide Milano of Oaklins Italy, supported by Simone Botti, assisted BP Agnati as financial advisor.
The acquisition of BP Agnati is the second deal in which Scouting Capital Advisor supports the Fosber Group for an acquisition. In 2019, Scouting played the role of financial advisor during the acquisition of the Spanish Tiruna SL Group. (All rights reserved)
(Source:Class Editori)
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