Saica Group to Acquire Polish Subsidiary of Schumacher Packaging
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Saica Group announced that it has reached an agreement with Schumacher Packaging to acquire Schumacher's Polish subsidiary. This includes all activities in Poland — the entire management, all employees, two modern corrugated board plants in Bydgoszcz and Wroclaw, two paper mills in Grudziadz and Myszków, and three service centers.
The value of the deal was not disclosed.
According to Saica, Schumacher Packaging's Polish subsidiary has developed a solid portfolio of customers and offers a production capacity of 440,000 tonnes per year of paper and 535 million square meters of corrugated board. The company has 1,540 employees in Poland, and in 2023 has a turnover of 327 million euros (aggregated sales).
"This will be a very important milestone. Not only is this a step forward in Saica's business growth strategy, but it also aims to further develop our infrastructure and services in Eastern Europe," said Susana Alejandro, President of Saica Group. "We are eager to welcome the Schumacher people in Poland, and further develop our culture and values with them, caring for the future, valuing people and accepting the challenges we have ahead."
Saica noted that the agreement with Schumacher is in line with its strategic plan, "Saica 2025," which was announced in 2021 and calls for the company to make an average investment of 230 million euros every year through 2025.
Saica said completion of the transaction with Schumacher is pending clearance by the Polish anti-trust authorities, as well as the fulfilment of certain conditions.
