Mondi has entered into an agreement to acquire the German, Benelux and UK corrugated converting and solid board operations of Schumacher Packaging. 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. These operations complement Mondi’s existing network of corrugated plants across Central and Eastern Europe, adding over 1 billion square meters of capacity when fully operational. 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 speed and operational efficiency as well as a highly skilled workforce 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.
In 2023, Schumacher Packaging’s Western European Packaging Assets delivered an adjusted EBITDA of Euro 66 million. The EBITDA contribution is expected to increase as the recently added capacity at Greven, following a significant investment programme, ramps up, and the identified Euro 22 million of cost synergies are realised over the three years following completion. This excludes expected one-off cash costs to achieve of approximately Euro 18 million.
The transaction, which is subject to certain customary regulatory approvals, is expected to close in the first half of 2025.
Mondi is a global leader in the production of sustainable packaging and paper.
