Sofidel closes 2024 with higher sales and expands presence in the U.S. with billion-dollar acquisition
Italian company advances Net Zero target by 2050 and announces leadership changes
Sofidel, one of the world’s leading producers of paper for hygienic and domestic use — best known in Italy and Europe for the Regina brand — closed 2024 with strong financial performance and progress in its international expansion and sustainability strategy.
Consolidated net sales reached €3.225 billion, a 3% increase compared to €3.129 billion in the previous year. The EBITDA margin stood at 17.85%, down from 21.11% in 2023.
On the environmental front, the company maintained its commitment to ecological transition. Specific emissions were reduced by 19.5% compared to the base year of 2018, in line with the targets set with the Science Based Targets initiative (SBTi) to achieve Net Zero by 2050.
The year’s most significant strategic move was the acquisition of the tissue division of U.S.-based Clearwater Paper Corporation, in a deal valued at approximately US$1 billion — the largest investment ever made by Sofidel. The transaction added four new production plants and 1,700 employees to the group, increasing its production capacity by 342,000 tons per year, equivalent to 25% of the company’s total capacity.
“2024 was a significant year. The acquisition of the tissue division of Clearwater Paper Corporation strongly reinforces our position in the North American market where we now have two production expansion projects underway – at the Duluth plant in Minnesota and the Circleville plant in Ohio – and where we are working to grow even further. In Europe, we have continued the policy of market consolidation and carried out numerous efficiency improvements in the production process as part of the energy transition strategy towards the Net Zero goal by 2050”, said Luigi Lazzareschi, CEO of Sofidel.
The year was also marked by governance changes. Following the passing of Chairman and shareholder Edilio Stefani, the Shareholders’ Meeting appointed Paola Stefani, daughter of co-founder Emi Stefani, as the new Chair of the Board of Directors. Paola is a shareholder and has served on the Board for over 20 years, with professional experience within the company.
Nicolò Stefani, a Board member since 2021, was appointed Managing Director, assuming all roles and signing authority previously held by his father, including responsibilities on the boards of all subsidiaries.
Two other members of the founding families’ third generation also joined the Board: Federico De Matteis, Financial & Operations Coordination Manager – USA, and Davide Giacomelli, Consolidated Financial Statement Controller. The new board also includes Antonio Pace as a new Director.
As a result, the new composition of the Board of Directors of Sofidel SpA is as follows: Paola Stefani, Chair; Luigi Lazzareschi, CEO; Nicolò Stefani, Managing Director; Davide Giacomelli, Director; Federico De Matteis, Director; Chiara Mio, Director; Silvio Bianchi Martini, Director; Andrea Munari, Director; Alessandro Solidoro, Director; Antonio Pace, Director.
