Packaging firm Mondi has entered into an agreement to acquire packaging assets of Schumacher Packaging in Germany, Benelux and the UK.
The initiative will help Mondi expand its corrugated footprint in Western Europe and add complementary fibre-based products, for the e-commerce and FMCG segments.
The deal includes corrugated converting and solid board operations of Schumacher Packaging.
Commenting on the acquisition, Andrew King, CEO of Mondi Group, said, “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 transaction, subject to certain customary regulatory approvals, is expected to close in the first half of 2025.
The Deal
The transaction includes seven corrugated converting plants, two solid board mills and four solid board converting plants.
These operations will complement Mondi’s existing network of corrugated plants across Central and Eastern Europe, adding over one billion square metres of capacity when fully operational.
Among the acquired assets are two state-of-the-art mega-box plants in Ebersdorf and Greven in Germany.
Both facilities are equipped to offer 'best-in-class' production speed and operational efficiency, as well as a 'highly skilled workforce with a culture aligned with Mondi’s', the company noted.
Co-CEOs of Schumacher Packaging, Bjoern Schumacher and Hendrik Schumacher, will be retained by Mondi as strategic advisor and chief operating officer of Solid Board, respectively.
Earlier this year, the British packaging company said it was implementing price hikes across its range of paper grades in the current fiscal year and there was an improvement in its order book.
