Saica Group has reached an agreement to acquire a majority share of LIC Packaging in Italy. This significant step will allow Saica to expand its footprint within the Southern European market.
May 16, 2024
Saica Group has reached an agreement with the family owners of LIC Packaging to increase its participation, becoming the major shareholder of the company. LIC Packaging is located in the province of Brescia in Lombardy, northern Italy. This plant had a revenue of EUR 120 million in 2023 and provided direct employment to 351 people. The Bertoldo family will remain in the management of the business.
Saica already acquired a minority stake in the company in 2001, which allowed LIC Packaging to expand its facilities and approach the international market. One of Saica’s 2025 strategic priorities is focused on sustainable growth, and developing its business model across Europe.
Watch: Top Paper Companies 2023
“This operation is a step forward as it allows us to expand our footprint within the Southern European markets for corrugated board, in this case, by acquiring a majority share of the plant in Italy. It is a great opportunity to increase Saica’s value proposition of sustainable packaging solutions for our customers”, said Mr. Ramón Alejandro, President of Saica Group.
Also Read: Georgia-Pacific to Invest Over USD 150 Million to Grow Consumer Tissue Business
“The time has come to continue growing as an international group and we have found the ideal partner in Saica. We are sure that the partnership will maintain our success and allow us to face future challenges with greater determination and efficiency”, said Mr. Piero Bertoldo, President of LIC Packaging and representative of the Bertoldo family.
