Sofidel Group completes acquistion of Cellynne Holdings in USA

Sep 05, 2012. /Lesprom Network/. The paper producer, Sofidel (Regina paper towels) has sealed the deal to buy the US company, Cellynne Holdings Inc., as the company said in a press release received by Lesprom Network With this acquisition, Sofidel, Europe’s second biggest paper tissue producer, now has access both to a new continent and the particularly challenging US market. The decision is consistent with its policy aiming at international growth and innovation; a strategy that began at the end of the 1990s. “This is an important step in the Group’s international growth strategy”, said Sofidel’s CEO, Luigi Lazzareschi. “It raises the Group’s overall production capacity to over 1 million metric tpy and marks its entry into the US market”. “Cellynne is a great company. We have full confidence in the expertise and professionalism of its staff and in the efficiency of the factories acquired”, added Lazzareschi. “This is a strategic investment that we hope will further strengthen our competitiveness and growth, by entering such a market that is full of opportunities”. Founded in 1988, with its Head Office in Haines City (Florida), Cellynne Holdings Inc. is a producer of tissue paper (for hygienic and domestic use) in the Away From Home and Consumer sector. It has over 300 employees and three production sites, strategically located in the United States: its Head Office is located at its Haines City site (Florida), with two additional converting sites located in Green Bay (Wisconsin) and Henderson (Nevada). It has an overall production capacity of 70,000 metric tpy. The Italian Group Sofidel is one of the leading European manufacturers of paper for hygiene and domestic use.