Founded in 1946, Cartiere Modesto Cardella produces paper and cardboard for corrugators in its plant in San Pietro a Vico (LU)
Germany-based paper and packaging firm Schumacher Packaging has acquired a majority stake in paper and cardboard producer Cartiere Modesto Cardella.
Founded in 1946, Cartiere Modesto Cardella produces paper and cardboard for corrugators in its plant in San Pietro a Vico (LU).
The Cardella family still has a significant stake and will continue to manage the firm in the coming years.
Cartiere Modesto Cardella employs about 100 people and generates 200,000 tonnes of recycled packaging paper annually. It has reported revenue of more than €1bn and employs more than 4,600 people.
The deal, in which CDI Global served as a financial advisor, will help create future synergies in the Italian and European packaging markets.
The transaction completion and the synergies that Schumacher Group will develop will allow Cartiere Modesto Cardella to grow more financially and structurally stable. It will also gain access to Europe’s largest paper packaging market.
The Schumacher Group received legal assistance from Allen & Overy, with a team led by partner Paolo Nastasi, in the negotiation and finalisation of the sale and purchase agreement of the shares as well as of the shareholders’ agreements.
Under the deal, both parties also gave prominence to “ESG” aspects.
In the transaction, Stefano Tovini and Paolo Dini’s team at CDI Global served as the financial advisor to Schumacher Group.
Jaffabox is a family-owned producer of packaging solutions from corrugated boards.