R2G

R2G completed the acquisition of 100% of FQN US and FQN China from First Quality Enterprises. The combined entity, PFNonwovens, will have annual production capacity of over 210,000 tonnes of nonwoven textiles.

Czech investment firm R2G, majority owner of Pegas Nonwovens, is buying First Quality Enterprises' nonwovens operations in the US and China. The price is estimated at up to $500 million.

R2G, the Czech private equity firm that had acquired Pegas Nonwovens, purchased First Quality Nonwovens in May 2018, merging the two to form PFNonwovens, one of the largest spunmelt nonwovens producers globally.

Czech investment group R2G announced a tender offer to all shareholders of Pegas Nonwovens at CZK 1,010 per share, an 8% premium. However, primary shareholder Wood Textiles Holding stated it is not considering a sale.