The EUR 634 million deal will strengthen Mondi’s corrugated converting footprint in Europe with highly complementary assets, increasing its capacity by over 1 billion square meters.
Oct 9, 2024
Mondi Group,a multinational packaging and paper group, has entered into a financial agreement worth EUR 634 million to acquire the German, Benelux and UK corrugated converting and solid board operations of Schumacher Packaging.
The transaction, which is subject to certain customary regulatory approvals, and expected to close in the first half of 2025.
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The announcement is in line with Mondi’s strategy to expand its corrugated packaging business in Europe and adjacent markets; invest in cost-advantaged assets; further integrate upstream and downstream operations to ensure security of supply for customers & optimized operations, and to continue to partner with customers to deliver innovative solutions.
The acquisition comprises seven corrugated converting plants, two solid board mills and four solid board converting plants. These operations complement Mondi’s existing network of corrugated plants across Central and Eastern Europe, adding over 1 billion square meters of capacity when fully operational.
The acquired sites include two mega-box plants in Germany, located at Ebersdorf and Greven, which have high production speed and operational efficiency as well as a highly skilled workforce that is culturally aligned with Mondi’s.
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Expanding Mondi’s eCommerce offering, particularly in Germany, presents significant opportunities to introduce the company’s new range of products to a wider customer base as they increasingly transition towards more sustainable packaging solutions.
