Global sustainable packaging and paper leader Mondi has announced a significant expansion of its European operations.
The company has entered into an agreement to acquire the German, Benelux, and UK corrugated converting and solid board operations of Schumacher Packaging for an enterprise value of EUR634m.
This strategic acquisition will broaden Mondi’s corrugated packaging footprint in Western Europe and enhance its product offering in the eCommerce and FMCG sectors. The deal includes seven corrugated converting plants, two solid board mills, and four solid board converting plants, complementing Mondi’s existing network across Central and Eastern Europe. Notably, the acquisition features two state-of-the-art mega-box plants in Germany, located in Ebersdorf and Greven.
Andrew King, Mondi Group CEO, commented on the acquisition: “Our focus is on investing to meet the growing market demand for sustainable packaging while driving value for our stakeholders. This acquisition significantly increases our corrugated converting capacity, extends our reach across Western Europe, and offers strong downstream integration opportunities, while broadening our customer offering with a complementary fibre-based product range.”
The move is particularly significant for Mondi’s eCommerce offerings, especially in Germany, Europe’s largest packaging market. It presents opportunities to introduce Mondi’s unique range of sustainable packaging solutions to a wider customer base.
King added, “We are delighted to be acquiring these assets and look forward to welcoming our new Schumacher Packaging colleagues and customers to Mondi. On completion, Mondi will have an enhanced customer proposition and a strong platform for further growth.”
To ensure a smooth transition, Björn Schumacher and Hendrik Schumacher, co-CEOs of Schumacher Packaging, will be retained as a strategic adviser and Chief Operating Officer Solid Board, respectively.
Björn Schumacher expressed his thoughts on the deal: “Our aim was to find a company that shares our entrepreneurial vision for the industry and has the size and strength to actively and sustainably shape the future of packaging. We have found an ideal partner for this in Mondi.”
The transaction, subject to customary regulatory approvals, is expected to close in the first half of 2025. This acquisition marks a significant step in Mondi’s growth strategy and reinforces its position as a leader in sustainable packaging solutions across Europe.
Find out more at: https://www.mondigroup.com/