Packaging and paper producer Mondi is to acquire the German, Benelux and UK corrugated converting and solid board operations of Schumacher Packaging for a value of €634 million (£529 million).
The transaction, which is subject to customary regulatory approvals, is expected to close in the first half of 2025.
The acquired assets from Schumacher Packaging will expand Mondi’s corrugated footprint in Western Europe and add complementary fibre-based products, focused on eCommerce and FMCG, to enhance its existing customer offering. Expanding the eCommerce offering presents opportunities to introduce the Group’s range of products to a wider array of customers, said Mondi.
The acquisition comprises seven corrugated converting plants, two solid board mills and four solid board converting plants, which complement Mondi’s existing network of corrugated plants across Central and Eastern Europe.
Andrew King, Mondi Group CEO, said the acquisition ‘significantly’ increases the company’s corrugated converting capacity and offers downstream integration opportunities, extending its reach across Western Europe. On completion, Mondi will have an enhanced customer proposition and a strong platform for further growth, he added.
Both Björn Schumacher and Hendrik Schumacher, co-CEOs of Schumacher Packaging, will be retained, respectively, as a strategic adviser and as chief operating officer for solid board, following the acquisition’s completion.
Björn Schumacher commented, ‘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.’
