Packaging firm sold to German giant
Birmingham packaging firm Jaffabox has been sold to German giant Schumacher Packaging.
Jaffabox operates from a 120,000 sq ft facility near to the NEC. The company has been sold to its German counterpart, which was founded in 1948 and currently operates from 29 locations across Germany, Poland, the Czech Republic and the Netherlands and turned over €627 million in 2018.
Björn Schumacher, managing director of the Schumacher Packaging Group, said: “Jaffabox offers immense potential which we will be able to perfectly fulfil together in our group of companies. The primary aim of our expansion is not to gain market shares. What we really want to achieve is to offer existing customers even more products and services and fulfil our promise of being a full-service provider as best we can.”
Frank Amyes, one of two Jaffabox managing directors, said: “We are very happy to have become part of the Schumacher Packaging family. In this way, we are making sure that we can continue the same level of service and product quality that our customers have come to expect from us. In addition, we will be able to offer them the expanded product range and European presence of Schumacher Packaging.”
Jaffabox will continue to be managed by the Amyes family.
The corporate team at Higgs & Sons advised Jaffabox. Richard Griffiths, head of corporate at Higgs who led the advisory team, said: “It has been fantastic to support John and Frank with the legal aspects of the sales process. The complex, cross-border deal structure necessitated input from various specialists from across the firm, including the corporate, tax, employment and property teams.”
Mark Wilson from Headpoint Advisors led on all corporate finance advice and Adele Raiment and Richard Tidball from Mazars provided tax advice.
