{"id":14564,"date":"2024-10-09T15:09:49","date_gmt":"2024-10-09T15:09:49","guid":{"rendered":"https:\/\/cpmirror.com\/?p=14564"},"modified":"2024-10-17T13:27:10","modified_gmt":"2024-10-17T13:27:10","slug":"mondi-to-acquire-western-europe-packaging-assets-of-schumacher-packaging","status":"publish","type":"post","link":"https:\/\/cpmirror.com\/index.php\/2024\/10\/09\/mondi-to-acquire-western-europe-packaging-assets-of-schumacher-packaging\/","title":{"rendered":"Mondi to acquire Western Europe Packaging Assets of Schumacher Packaging"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li>Strengthens Mondi\u2019s corrugated converting footprint in Europe with highly complementary assets, increasing capacity by over 1 billion square meters<\/li>\n\n\n\n<li>Provides integration benefits with the Group\u2019s leading containerboard operations in Europe<\/li>\n\n\n\n<li>Includes two state-of-the-art mega-box plants in Germany, located at Ebersdorf and Greven, securing significant capacity to meet the growing demand for sustainable packaging<\/li>\n\n\n\n<li>Enterprise value of \u20ac634 million, to be financed from existing facilities. Earnings per share accretive in the first full financial year following completion<\/li>\n<\/ul>\n\n\n\n<p>Mondi plc (\u201cMondi\u201d or the \u201cGroup\u201d), a global leader in the production of sustainable packaging and paper, today announces that it has entered into an agreement to acquire the German, Benelux and UK corrugated converting and solid board operations of Schumacher Packaging1(\u201cthe Acquisition\u201d). This Acquisition will expand Mondi\u2019s corrugated footprint in Western Europe and add complementary fibre-based products, focused on eCommerce and FMCG, to enhance its existing customer offering.<br><br>Today\u2019s announcement is in line with Mondi\u2019s strategy to expand its Corrugated Packaging business in Europe and adjacent markets; to invest in cost advantaged assets; to further integrate upstream and downstream operations to ensure security of supply for customers and optimised operations, and to continue to partner with customers to deliver innovative solutions.<br><br>The Acquisition comprises seven corrugated converting plants, two solid board mills and four solid board converting plants. These operations complement Mondi\u2019s existing network of corrugated plants across Central and Eastern Europe, adding over 1 billion square meters of capacity when fully operational. Among the acquired sites are two state-of-the-art mega-box plants in Germany, located at Ebersdorf and Greven, which have best-in-class production speed and operational efficiency as well as a highly skilled workforce with a culture aligned with Mondi\u2019s.<br><br>Expanding Mondi\u2019s eCommerce offering\u2014particularly in Germany, the largest packaging market in Europe\u2014presents significant opportunities to introduce the Group\u2019s unique range of products to a wider array of customers as they increasingly transition towards more sustainable packaging solutions.<br><br>In 2023, Schumacher Packaging\u2019s Western European Packaging Assets delivered an adjusted EBITDA of \u20ac66 million. The EBITDA contribution is expected to increase as the recently added capacity at Greven, following a significant investment programme, ramps up, and the identified \u20ac22 million of cost synergies are realised over the three years following completion. This excludes expected one-off cash costs to achieve of approximately \u20ac18 million.<br><br>Commenting on the Acquisition, Andrew King, Mondi Group CEO, said:&nbsp;\u201cOur focus is on investing to meet the growing market demand for sustainable packaging while driving value for our stakeholders. This acquisition significantly increases our corrugated converting capacity, extends our reach across Western Europe, and offers strong downstream integration opportunities, while broadening our customer offering with a complementary fibre-based product range.<br><br>\u201cWe are delighted to be acquiring these assets and look forward to welcoming our new Schumacher Packaging colleagues and customers to Mondi. On completion, Mondi will have an enhanced customer proposition and a strong platform for further growth.\u201d<br><br>The transaction, which is subject to certain customary regulatory approvals, is expected to close in the first half of 2025.<br><br>Mr Bjoern Schumacher and Mr Hendrik Schumacher, co-CEOs of Schumacher Packaging who have been instrumental in the development of the business over many years, will be retained, respectively, as a strategic adviser and as Chief Operating Officer Solid Board. We welcome their continued involvement to ensure a smooth transition and support the ongoing development of the combined business.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mondi plc (\u201cMondi\u201d or the \u201cGroup\u201d), a global leader in the production of sustainable packaging and paper, today announces that it has entered into an agreement to acquire the German, Benelux and UK corrugated converting and solid board operations of Schumacher Packaging1(\u201cthe Acquisition\u201d). This Acquisition will expand Mondi\u2019s corrugated footprint in Western Europe and add<\/p>\n","protected":false},"author":1,"featured_media":14565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65],"tags":[85],"class_list":{"0":"post-14564","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-corrugated-folding-carton","8":"tag-mondi"},"_links":{"self":[{"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/14564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/comments?post=14564"}],"version-history":[{"count":1,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/14564\/revisions"}],"predecessor-version":[{"id":14566,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/14564\/revisions\/14566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/media\/14565"}],"wp:attachment":[{"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/media?parent=14564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/categories?post=14564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cpmirror.com\/index.php\/wp-json\/wp\/v2\/tags?post=14564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}