The Lucca paper district, specializing in tissue products like toilet paper and napkins, is increasingly focusing on expanding its production capacity through foreign investments.
This strategic move is crucial as local companies face stiff competition from global giants such as Georgia Pacific, Procter & Gamble, and Kimberly-Clark.
To remain competitive, Lucca's companies are engaging in acquisitions and reorganizations, alongside pursuing green initiatives, which are vital for the energy-intensive paper sector.
Sofidel, a major player in the district, has recently acquired the tissue division of Clearwater Paper Corporation in the United States.
This acquisition, valued at $1.06 billion, will significantly increase Sofidel's presence in the US market, which is known for its high per capita consumption of tissue products.
The deal is expected to close by the end of the year, boosting Sofidel's US revenue share from 27% to potentially 45-50%. Lucart, another key company in the district, is also preparing for further investments.
The company has opened its capital to Azzurra Capital, a private equity fund, to support its multi-year strategic plan from 2024 to 2029.
This plan includes potential acquisitions and the establishment of new production facilities.
Lucart ended 2023 with a revenue of €765 million and an EBITDA exceeding €130 million.
The district is also witnessing activity among paper machinery manufacturers, with international investors showing interest.
Fosber Italia, owned by the Chinese group Dong Fang, has announced a €45 million investment to build a new headquarters in Monsagrati, Lucca, by 2026.
However, the district faces challenges such as labor shortages and limited space for production expansion.