Saica acquires minority shares of two Italian companies
The Spanish paper and packaging group is conquering southern Europe
Involved in the operation Adda Ondulati and Cartaorobica, over 100 million euros in turnover in both.
Spanish paper and packaging group Saica is expanding its presence in the corrugated market in southern Europe. An important step in this process was the purchase of a minority stake in Adda Ondulati and Cartorobica, two Italian family-run corrugated board and packaging producers. The total production capacity of Adda Ondulati and Cartorobica exceeds 155 million square meters.
“This deal is a step forward as it allows us to expand our presence in the Southern European corrugated markets, in this case by acquiring minority stakes of factories in Italy. It is a great opportunity to increase Saica's value proposition for sustainable packaging solutions for our customers,” said Ramon Alejandro , president of the Saica Group.
Adda Ondulati manages an integrated packaging site in Annone di Brianza, in the province of Lecco. The company reportedly produced more than 100 million square meters of corrugated products and had revenues of 65 million euros.
Cartorobica produces corrugated sheets and packaging at its packaging plant in Calcina in the province of Bergamo. The company had a turnover of 40 million euros, with a production of over 55 million square meters in 2022.
The Saica Group is active in four business lines, consisting of waste management and environmental services (Saica Natur), production of recycled packaging board (Saica Paper), production of corrugated board and packaging (Saica Pack) and production of flexible packaging (Saica Flex). The group reported sales revenues of nearly €4.4 billion for 2022.
Saica Paper is among the leading producers of recycled packaging board in Europe with a production capacity of 3.3 million tonnes.
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