“This deal significantly increases our corrugated converting capacity and extends our reach across Western Europe,“ says Andrew King, Mondi Group CEO.
The acquisition includes seven corrugated converting plants, two solid board mills, and four solid board converting plants. Notably, it features two state-of-the-art mega-box plants in Germany, located at Ebersdorf and Greven, which will secure significant capacity to meet the growing demand for sustainable packaging.
This acquisition will significantly enhance Mondi’s presence in Western Europe, adding over 1 billion square meters of capacity and providing integration benefits with the Group’s leading containerboard operations.
The enterprise value of the acquisition is €634 million, to be financed from existing facilities. It is expected to be earnings per share accretive in the first full financial year following completion. Schumacher Packaging’s Western European assets delivered an adjusted EBITDA of €66 million in 2023, with further growth anticipated as new capacities ramp up and cost synergies are realized.
The transaction, subject to customary regulatory approvals, is expected to close in the first half of 2025.
For reference
Schumacher Packaging is a prominent family-run company and one of the largest manufacturers of custom packaging made from corrugated and solid board in Europe. Established over 75 years ago, the company has grown dynamically and internationally, now operating 29 locations across Germany, Poland, the Czech Republic, Great Britain, Italy, and the Netherlands.
Mondi Group is a global leader in packaging and paper, known for its commitment to sustainability and innovation. The company operates in over 30 countries, with key operations in Europe, North America, and Africa. Mondi employs around 22,000 people across 100 production sites.
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