Fabbrica Italiana Lapis ed Affini, a global player specialized in the research, design, manufacturing and sale of creative expression tools, completed the acquisition of ARCHES, the fine art paper business of Ahlstrom-Munksjö, a global company that provides fiber-based products, for $49m. “As a result of our regular assessment what is the best structure for our platform of businesses, we have signed a non-binding memorandum of understanding to divest the fine art paper business. The business is small and synergies are limited within our portfolio of businesses. F.I.L.A. is a strategic and industrial owner, a leading global player in its field, for which the ARCHES paper product range is highly complementary and provides further growth opportunities,” Hans Sohlström, Ahlstrom-Munksjö President and CEO.