Mondi, 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 Packaging[1] for an enterprise value of €634 million.
This acquisition will expand Mondi’s corrugated footprint in Western Europe and add complementary fibre-based products, focused on eCommerce and FMCG, to enhance its existing customer offering. The acquisition comprises seven corrugated converting plants, two solid board mills and four solid board converting plants, which complement Mondi’s existing network of corrugated plants across Central and Eastern Europe. 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 and highly skilled teams with a culture aligned with Mondi’s.
Expanding Mondi’s eCommerce offering—particularly in Germany, the largest packaging market in Europe—presents significant opportunities to introduce the Group’s unique range of products to a wider array of customers as they increasingly transition towards more sustainable packaging solutions.
Commenting on the Acquisition, Andrew King, Mondi Group CEO, said: “Our 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.
We 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.”
Mr Björn 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. Mondi welcomes their continued involvement to ensure a smooth transition and support the ongoing development of the combined business.
“Our aim was to find a company that shares our entrepreneurial vision for the industry and has the size and strength to actively and sustainably shape the future of packaging. We have found an ideal partner for this in Mondi.” explains Björn Schumacher, CEO of Schumacher Packaging.
The transaction, which is subject to certain customary regulatory approvals, is expected to close in the first half of 2025.
[1] Corrugated converting sites include Bielefeld, Ebersdorf, Greven, Lehrte, Sonneberg, in Germany, Breda in the Netherlands and Birmingham in the UK. Solid Board mills at Kaierde and Schwarzenberg with conversion sites at Hauenstein, Forchheim, Schwarzenberg and Leipzig-Land (all Germany).