Poli-Tape Group has four production sites in Europe: two in Germany and a further two in Italy, and a distribution operation in Oklahoma in the US. It has 370 employees and achieved sales of around €100m (£85m) last year.

The business recently rationalised its operations, shutting down a site in France and focused its US activities in one location.

Poli-Tape’s product range includes specialist textile transfer films, graphic arts films for large-format digital printing, heat transfer vinyls used in crafting, and adhesive tapes.

The current majority owner is the Möhren family while the Bitburger Group is a minority investor.

Fedrigoni CEO Marco Nespolo said the acquisition would expand the group’s portfolio of self-adhesive materials.

“With this deal we are increasing our presence in attractive segments, such as textile and specialty graphics categories, as well as expanding our manufacturing capabilities.

“It also adds a distinctive know-how on polyurethane films used, for example, in the automotive wrapping and paint protection segments, which are both highly strategic and synergistic with our recently acquired Unifol in Turkey.”

Sven Möhren, Poli-Tape’s current majority shareholder, said the family were pleased to have reached agreement with “a solid and growing partner like the Fedrigoni Group”.

Fedrigoni had pro forma sales of €1.8bn last year, down 11% on the prior year. However, EBITDA increased by 8% to €338m with a resulting increase in margin to 18.7%.

Fedrigoni also noted that its business was now increasingly global, with 21% of sales originating in the Italian market, 49% from the rest of Europe and 30% from the rest of the world.

This deal marks the group’s fourth acquisition of 2024.