Strategic investment secures expansion of product portfolio
Massimiliano Bianchi, President and Managing Director of Fosber Group, has confirmed that the company has recently signed an agreement with Vimercate, Italy based BP Agnati srl to acquire 60% of the shares in the business. 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 machines installed on every continent in the world. Up until 2009, Agnati was a family owned company; it was then acquired by the Brivio Pierino Group, at which time it changed name to BP Agnati srl. The company employs 105 people and generated €40 million in 2019.
“The acquisition of 60% of the shares in our business by Fosber Group represents a significant landmark for our company,” says Alberto Brivio, owner and CEO of BP Agnati srl. “Although we are cash positive and with a good order book, we decided that having Fosber Group as one of the owners was a strong move for the company. We will be using the funds to secure the long term future of the brand and its products. R&D is at the heart of the Agnati business and we will continue to develop our product lines to ensure our customers have the best technology at their disposal.”
Alberto Brivio continues, “Although we are a medium sized business, entering the Fosber Group will allow us to significantly enhance our offering further, especially relating to after sales support and service, spare parts and training. Joining the Fosber Group will allow our customers to benefit from the expanded global footprint. 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, particularly thanks to the development of the Quantum corrugator back in 2015. To date, 13 of these compact, speciality corrugators have been sold. 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.
“We are delighted to bring Agnati into the Fosber Group, particularly following the acquisition of Tiruña in 2019,” continues Massimiliano Bianchi. “Over the last decade, Alberto Brivio and the team at Agnati have made huge strides in cementing the position of the company in the European and Asian markets, especially with the Quantum range of corrugators. Bringing the business into the Fosber Group will allow them to broaden the reach of the machines into new markets, especially North America, Asia and into multi-national companies. We welcome them to our family, particularly at a time that sees the Fosber Group continuing its significant growth.”