Thimm Group to Sell Thimm Packaging Systems Division to Rengo
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Thimm Group announced that it has entered an agreement to sell Thimm Packaging Systems, the industrial goods division of the company, to Rengo Group, Japan's largest packaging supplier.
The sale price will be kept confidential.
Thimm Group explained that in Germany, Tricor Packaging & Logistics AG, headquartered in Bad Wörrishofen, Germany, is already part of the Rengo network, and Tricor has been working closely together with Thimm for many years. Market requirements for the next growth phase in the industrial goods sector have changed rapidly, especially in the automotive sector. A global production and distribution setup is required to be able to grow further here.
"Therefore, in terms of global expansion, we see the best prospects for Thimm Packaging Systems, the company, and its employees, in a cooperation with the industrial goods specialist Tricor. It's a perfect fit," said Mathias Schliep.
The sale will be finalized after approval by the Federal Cartel Office, which is expected in the next few weeks.
Thimm Packaging Systems has been part of the Thimm Group since 1993 and in 2021 achieved a turnover of EUR 187 million (27 percent). Thimm Packaging Systems employs 1,075 people at seven locations in Germany and one the Czech Republic.
