In a strategic move to expand its sustainable packaging capabilities across Southern Europe, Spanish corrugated giant Saica Group has acquired a majority stake in Italian packaging manufacturer LIC Packaging.
The acquisition, announced Tuesday May 14, sees Saica increase its existing minority shareholding in LIC to become the largest shareholder of the Brescia-based company. Financial terms were not disclosed.
For Saica, a leading European producer of recycled paper for corrugated board, the deal aligns with the company's 2025 strategic priority of sustainable growth by strengthening its integrated paper, corrugated and packaging business model across the continent.
Ramón Alejandro, President of Saica Group
"Expanding our production footprint in the important Italian market with a respected player like LIC Packaging allows us to better serve customers in Southern Europe with our full range of sustainable packaging solutions," said Ramón Alejandro, President of Saica Group.
Founded in 1952, LIC Packaging is a major corrugated packaging manufacturer in Northern Italy, reporting revenues of €120 million in 2023 and employing 351 people. The Bertoldo family, founders of the company, will remain involved in managing the business after becoming a minority shareholder.
"We are confident this partnership with Saica's integrated paper and packaging capabilities will strengthen LIC's competitive positioning and drive future success through synergies and improved efficiencies," stated Piero Bertoldo, President of LIC Packaging.
The acquisition follows Saica's recent purchases of minority stakes in two other Italian corrugated producers - Adda Ondulati and Cartorobica - as it solidifies its position in the high-demand Southern European corrugated packaging market.
With an annual production capacity of 3.3 million tons of recycled paper for corrugated board, the deal reinforces Saica Group's position as a major integrated player in the European packaging industry focused on sustainability.
About Saica Group
Saica Group is one of the leading companies in Europe in the manufacture of recycled paper for corrugated board, with an annual production capacity of 3.3 million tons of recycled paper for corrugated board. With more than 10,000 employees and a presence in Spain, France, Italy, Portugal, the United Kingdom, Ireland, Turkey, Luxembourg, the Netherlands, the United States and Poland, Saica Group has four business lines: manufacture of recycled paper for corrugated board (Saica Paper), waste management and environmental services (Saica Natur), production of corrugated board packaging (Saica Pack) and flexible packaging (Saica Flex). The group's turnover is € 3.620 million (consolidated turnover at Dec. 31, 2023).
About LIC Packaging
Lic Packaging is a family-run company founded by the Bertoldo family in 1952. For over 70 years it has been studying, researching, designing and industrializing Packaging and Display Solutions for packaging, transport, display and direct contact with food, using latest generation technologies. It is based in Lombardy, northern Italy. It currently employs 351 people, reaching in 2023 a turnover of € 120 million.
