A strategic investment secures ongoing development and expansion of product portfolio.
Massimiliano Bianchi, President and Managing Director of Fosber Group, has confirmed the acquisition of the 60% of BP Agnati srl. Terms of the agreement have not been disclosed.
Tracing its roots back to the 1930s, Agnati has pioneered many significant developments in the design and manufacture of corrugating lines. The company has many machines installed all around the world, in North and South America as well. The company employs 105 people at its manufacturing facility in Italy and generated $44 million of sales in 2019.
“The acquisition of 60% of our business by Fosber represents a significant landmark for our company,” says Alberto Brivio, CEO of BP Agnati srl. “Entering the Fosber Group will allow us to significantly enhance our offering to customers in the North American market through Fosber America, especially relating to after sales support and service, spare parts and training. Joining Fosber will allow our customers to benefit from the expanded footprint in North America and existing and new customers will have the market-leading service and support function offered by Fosber.”
Sales over the last few years have been solid for Agnati, particularly thanks to the development of the Quantum corrugator back in 2015. To date, 13 of these compact, specialty corrugators have been sold globally. Producing exceptionally flat board in either single or doublewall configuration, the Quantum has been well received by customers who are producing packaging with high quality flexo or offset post-print as well as digital print. The first such line has been installed in the U.S. recently at Universal Sheets.
“We are delighted to bring Agnati into the Fosber Group, particularly as we now add the Quantum to our portfolio of offerings,” adds Massimiliano Bianchi “Over the last decade, Alberto Brivio and his team have made huge strides in cementing the position of the company in the European and Asian markets, especially with the Quantum range of corrugators”
Jeff Pallini, President of Fosber America, concludes: “Bringing the business into the Fosber Group will allow them to broaden the reach of the machines into new markets, especially North America. We welcome them to our family, particularly at a time that sees Fosber continuing its significant growth.”