Family owned corrugated packaging group Saica has acquired family owned corrugated packaging group Thimm.
Saica operates in Western Europe, including the UK, and has sites in Norbert America. Thimm is a smaller business with sites located mostly in Germany and central Europe, though its has a site in France running one of two HP T1100 series inkjet presses in the group.
Saica is based in Spain and has more than 12,000 employees and sales of €3,962 billion while Thimm has 2,500 staff and sales of approximately €539 million. It has invested in recent years in what it calls the “internet of packs”, a strategy that enables consumers to communicate with brands through packaging and increasing traceability and networking across supply chains.
However the broader trends that have driven consolidation in the sector with Smurfit and WestRock joining forces and David S Smith with International Paper, Mondi to purchase Schumacher, meant that Thimm needed to be part of a larger business.
Board chairman Mathias Schliep says: “We are convinced that in a highly competitive market, only a small number of large players will be able to gain market share in the future.
“We therefore decided to sell the company to the largest family owned company in the European industry in order to secure Thimm’s growth prospects and long-term future under a strong umbrella.
“For our employees, joining a strong family-owned group offers stability and long-term stability. The sites of both companies complement each other perfectly; together we cover the whole of Europe.”
The two have a joint venture in Poland and a sales alliance in place, reducing the risk and showing that the cultures are aligned.
He continues: “Both families have known each other across generations. Our cultures and the values of both companies are an excellent fit.”
Saica president and CEO Susana Alejandro says: “Thimm brings strong regional capabilities and a customer-driven approach in markets where Saica has not previously operated. Together with Thimm, we see significant potential to further strengthen our leading position in the highly competitive European market.”
As well as corrugated packaging Saica uses recycled paper to produce corrugated board and produces flexible packaging as Saica Flex, the latter boosted by a £2.2 million investment at Saica Flex Deeside in a coating machine for linerless label substrates.
