October 30, 2019 / 9:07 AM / 19 days ago

Italy's Fedrigoni to pay around 250-300 mln euros to buy Ritrama - source

MILAN, Oct 30 (Reuters) - Italian paper manufacturer Fedrigoni has agreed to pay around 250-300 million euros ($278-$333 million) to buy self-adhesive products’ maker Ritrama, a source close to the matter said on Wednesday.

Earlier Fedrigoni, controlled by Bain Capital, said it had signed an agreement to acquire Ritrama as part of its strategy of focusing on specialty papers and pressure-sensitive labels.

The deal is expected to close in the first quarter of 2020, the companies said in the statement.

$1 = 0.8995 euros Reporting by Elisa Anzolin, editing by Giselda Vagnoni

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