SIG Combibloc has entered into an agreement to acquire packaging solutions company, Scholle IPN, for an enterprise value of €1.36 billion.
US company Scholle IPN produces and distributes packaging systems and solutions for liquids, such as bag-in-box packaging and spouted pouches. The business currently has an estimated 2,100 employees globally.
The deal will expand Scholle IPN’s portfolio into the Asia Pacific, Latin America, Middle East and Africa markets – where SIG has a well-established presence.
The acquisition will enable SIG to build on its capabilities in aseptic technology and expand its use in both pouches and bag-in-box. The combined company will employ almost 8,000 people in 69 sales and manufacturing sites across the globe.
The partnership will also strengthen the research and development capabilities of the two companies.
Samuel Sigrist, CEO of SIG, said: “The acquisition of Scholle IPN cements SIG’s position as a global leader in innovative and sustainable packaging for food and beverages. It is consistent with our strategy of geographic and category expansion accompanied by share gains in key markets. By delivering clear benefits for customers, consumers and the environment, we will drive value for shareholders.”
The transaction is expected to close in the third quarter of this year, subject to customary closing conditions.
By Lauren Ford
Source: foodbev.com
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