Schur Flexibles provides high-barrier packaging solutions for the food, pharmaceutical, cosmetic and aroma protection industries
B&C Group has agreed to acquire Schur Flexibles. (Credit: bertholdbrodersen from Pixabay)
B&C Group has agreed to acquire an 80% stake in Austria-based flexible packaging solutions provider Schur Flexibles Group from Lindsay Goldberg.
The transaction is valued at around $1.09bn, including debt, reports Reuters.
Established in 2012, Schur Flexibles provides high-barrier packaging solutions for the food, pharmaceutical, cosmetic and aroma protection industries.
The company has an integrated value chain ranging from extrusion, printing and laminating to full-line bag and pouch production.
Schur Flexibles CEO Michael Schernthaner said: “We are grateful to Lindsay Goldberg for its active, entrepreneurial support in the strategic development of the company as well as for eight value-enhancing acquisitions – and not least for the fact that Lindsay Goldberg will remain co-owner with a 20% interest.”
Schur Flexibles’ product portfolio consists of films, shrink, cold seal, aluminium foil, liner films, top films and lids, as well as bottom films and IWs films.
The company also offers bags and pouches, skin and wrap solutions, and die-cut lids.
With around 2,100 employees and €540 annual revenues, Schur Flexibles operates 22 facilities in Germany, Finland, Denmark, Sweden, the Netherlands, Poland, Slovakia, Greece, France, the UK and Italy.
Lindsay Goldberg managing partner Michael Dees said: “We are very proud of the efforts of the Schur Flexibles team in developing a world-leading packaging producer. We enthusiastically look forward to our continued partnership with the Schur Flexibles team and our new partnership with B&C.”
Upon completion of the deal, Lindsay Goldberg will hold a 20% stake in Schur Flexibles and remain as co-owner of the company.
Last month, Schur Flexibles acquired Italy-based packaging specialist Sidac, which provides packaging solutions for the customers in the food, beverage, confectionery and animal feed segments.