1st Apr 2025 07:54
(Alliance News) - Mondi PLC reported on Tuesday it has completed its acquisition of packaging assets from Schumacher Packaging GmbH for EUR634 million.
The Weybridge, England-based packaging firm, which first announced the deal in October last year, has bought the German, Benelux and UK corrugated converting and solid board operations of Schumacher Packaging. Benelux refers to Belgium, the Netherlands, and Luxembourg.
The acquisition comprises seven corrugated converting plants, two solid board mills and four solid board converting plants.
Mondi said the Schumacher Packaging transaction expands its footprint, noting that it complements its existing network of corrugated solutions plants across Central and Eastern Europe.
"This acquisition significantly strengthens our corrugated packaging business, extending our footprint in Western Europe and offering strong vertical integration opportunities," Mondi Chief Executive Officer Andrew King said.
"Together we will expand our eCommerce and FMCG offering, particularly in Western Europe, presenting exciting opportunities to introduce the Group's unique range of products to a wider array of customers as they increasingly transition towards more sustainable packaging solutions," King said.
In 2023, Schumacher Packaging's Western European packaging assets delivered adjusted earnings before interest, taxes, depreciation and amortisation of EUR66 million.
By Artwell Dlamini, Alliance News reporter
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