Sustainable packaging producer Mondi is to buy the German, Benelux and UK corrugated converting and solid board operations of Schumacher Packaging.
The Vienna-headquartered company will buy the Western European packaging assets of its Bavarian-based rival, including a plant in Birmingham.
Mondi, which has committed to making its entire packaging and paper portfolio reusable, recyclable or compostable by 2030, said the acquisition would expand its corrugated footprint and add complementary fibre-based products.
The deal includes seven corrugated converting plants, two solid board mills and four solid board converting plants.
Among the acquired sites are two mega-box plants in Germany that have best-in-class production speed and operational efficiency, according to Mondi.
Schumacher Packaging’s Western European packaging assets delivered an adjusted Ebitda of €66 million (£55m) last year.
Andrew King, chief executive of Mondi Group, said: “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.”
The transaction is subject to certain regulatory approvals but is expected to close in the first half of 2025.
