COHOES, NEW YORK—  Mohawk Fine Paper, one of the North America's largest privately held paper manufacturers, been sold to Italian Fedrigoni. The sale to Fedrigoni has been in the works for a while, as the two companies had been in a manufacturing and distribution partnership since 2022. In recent months, Mohawk Fine Papers had been facing significant financial difficulties. Founded in 1931, Mohawk Fine Papers produces specialty brands, such as Mohawk Superfine, Crane Lettra, Strathmore and Renewal.   The deal is Fedrigoni’s seventh deal in the last year, purchase of the Guarro Casas mill in Spain from Arjowiggins. Founded in 1888, Fedrigoni manufacturer  of self-adhesive labels and materials and papers for luxury packaging and other creative solutions.The company currently has more than 4,500 employees in 27 countries and 48 facilities.Fedrigoni is a subsidiary of Bain Capital Management and BC Partners.