£532m packaging acquisition to boost Western European operations

Global paper and packaging giant Mondi has acquired Schumacher Packaging’s Western European assets in a €634m (£532m) deal.

The Schumacher family business’s German, Benelux, and UK corrugated converting and solid board operations will boost Mondi’s footprint across Europe and its service offerings.

The assets comprise 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 more than 1bn sq m of capacity when fully operational.

Schumacher’s UK operations are headquartered in Birmingham, where more than 100 staff work at the site on Birmingham International Park.

Bjoern Schumacher and Hendrik Schumacher, co-CEOs of Schumacher Packaging will be retained, respectively, as a strategic adviser and as Chief Operating Officer Solid Board.

Andrew King, Mondi Group 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.”

The transaction, which is subject to certain customary regulatory approvals, is expected to close in the first half of 2025.