Mondi to Acquire Schumacher Packaging’s Western Europe Assets

Source: Mondi

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Mondi, a global leader in sustainable packaging and paper, has announced plans to acquire the Western Europe packaging assets of Schumacher Packaging.

The €634 million deal, still pending regulatory approval, is expected to significantly expand Mondi’s corrugated converting footprint in Europe. Upon completion, the acquisition will add over 1 billion square meters of production capacity, further strengthening Mondi’s position in the growing market for sustainable packaging.

The acquisition includes seven corrugated converting plants, two state-of-the-art mega-box facilities in Germany (Ebersdorf and Greven), and several solid board mills and converting sites. These assets, which serve markets such as eCommerce and Fast-Moving Consumer Goods (FMCG), will complement Mondi’s existing operations and expand its reach into Western Europe.

Andrew King, Mondi Group CEO, highlighted the strategic importance of the deal, noting that it aligns with the company’s goal to meet growing demand for sustainable packaging solutions. "This acquisition will significantly increase our capacity and enhance our customer offering across Europe," King said.

Schumacher Packaging’s assets delivered an adjusted EBITDA of €66 million in 2023. Mondi expects the transaction to be earnings accretive in its first full financial year after completion. The company also forecasts €22 million in cost synergies over the next three years, as well as additional benefits from the integration with its containerboard operations.

The transaction is expected to close in the first half of 2025, subject to regulatory approval.

Mondi is a global leader in sustainable packaging and paper solutions, headquartered in Weybridge, United Kingdom. The company operates across the entire packaging and paper value chain, focusing on creating innovative, sustainable products that meet the needs of various industries.

Schumacher Packaging is a prominent family-owned business based in Ebersdorf bei Coburg, Germany, specializing in the production of sustainable packaging solutions. Founded over 70 years ago, the company has grown to become one of Europe's leading manufacturers in the packaging sector, with a focus on corrugated and solid board products.