The transaction, which is subject to customary regulatory approvals, is expected to close in the first half of 2025.
The acquisition is comprised of seven corrugated converting plants, two solid board mills and four solid board converting plants. This includes plants in Ebersdorf and Greven in Germany.
Once fully operational, the addition will contribute over one billion square meters of capacity to Mondi’s network. Mondi currently has corrugated plants across Central and Eastern Europe.
In 2023, the acquired assets delivered an adjusted EBITDA of €66 million to Schumacher Packaging. The EBITDA contribution is expected to increase due to expanded capacity at the plant in Greven.
Bjoern Schumacher and Hendrik Schumacher, co-CEOs of Schumacher Packaging, will be retained as a strategic adviser and as chief operating officer of solid board respectively.
Andrew King, Mondi CEO, said: “Our focus is on investing to meet the growing market demand for sustainable packaging while driving value for our stakeholders. This acquisition significantly increases our corrugated converting capacity, extends our reach across Western Europe, and offers strong downstream integration opportunities, while broadening our customer offering with a complementary fibre-based product range.
“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.”
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