Ahlstrom-Munksjö completes the sale of fine art paper business ARCHES
March 3, 2020
FINLAND (News release) -- Ahlstrom-Munksjö has completed the sale of its fine art paper business ARCHES® to Italian based F.I.L.A. Group, Fabbrica Italiana Lapis ed Affini S.p.A., at a debt and cash free price of EUR 43.6 million.
On October 30, 2019, Ahlstrom-Munksjö Oyj announced that it had entered into a non-binding memorandum of understanding to divest the business with F.I.L.A. Group, Fabbrica Italiana Lapis ed Affini S.p.A.
The fine art paper business is small and has limited synergies within Ahlstrom-Munksjö's portfolio of businesses. F.I.L.A. is a strategic and industrial owner, a leading global player in its field, for which the ARCHES paper product range is complementary and provides further growth opportunities.