GP completes sale of its Italy business to Italian papermaker Cartiera Lucchese; sale includes paper mills in Castelnuovo and Avigliano, Italian brands Tutto and Tenderly, distribution agreements
January 17, 2012
– Today, Georgia-Pacific has announced that it has completed the sale of the legal entity in Italy to Cartiera Lucchese (Lucart Group). A definitive agreement for the sale was announced last November and this closing concludes the sale process.
The sale includes the mills located at Castelnuovo and Avigliano, the Italian brands Tutto and Tenderly, related assets and administrative support functions and offices. The agreement also includes a 12-month license for the distribution of differentiated Lotus Professional products owned by Georgia-Pacific EMEA Away-from-Home as well as an exclusive distribution agreement for Georgia-Pacific’s Demak’Up products in Italy for one year.
Headquartered at Atlanta, Georgia-Pacific is one of the world’s leading manufacturers and marketers of building products, tissue, packaging, paper, cellulose and related chemicals. The company employs approximately 40,000 people at approximately 300 locations in North America, South America and Europe.