Industria Cartaria Pieretti, an historic company based in Lucca and active in the production of recycled paper and cardboard for industrial use, sold 80% of its share capital to Cartiera dell’Adda, leader in the production of gray cardboard for industrial use.
Mr Graziano Pieretti, president of the historic company founded by the father Giuseppe in 1924, sold his shares together with the daughter Carmelina and the brother Luisiano. The remaining 20% of the shares is in the hands of Mr. Tiziano Pieretti, who will continue to manage the company as CEO.

The transaction gives birth to one of the biggest European producers of gray cardboard, with two plants, 300.000 tons produced per year, a turnover of Euro 120 million and 230 employees.

Industria Cartaria Pieretti, based in Marlia Capannori in the province of Lucca, active since the twenties of the twentieth century, has specialized over time in the production of recycled cardboard, for the sectors of tissue rolls, spiral tubes and line, packaging and corrugated cardboard. At December 31, 2017, the company posted a turnover of approximately Euro 52 million with 110 employees.

Cartiera dell’Adda, based in Calolziocorte in the province of Lecco, has been operating since 1956 in the production and sale of gray cardboard for industrial use. The company closed the 2017 fiscal year with a turnover of around Euro 50 million with 100 employees.

The shareholders of Industria Cartaria Pieretti were advised by the financial advisor K Finance (Clairfield Italy), the law firm Nctm dealt with the legal matters.
Cartiera dell’Adda was assisted by the financial advisor Euromobiliare and for the legal aspects by the law firm Gattai, Minoli, Agostinelli & Partners and by Studio Legale Verdi of Milan. Cartiera dell’Adda was supported for the financing of the acquisition by BNL Gruppo BNP Paribas.