The acquisition of Scholle IPN will enable SIG to expand its applications in both pouches and bag-in-box and enter into segments such as wine and water
SIG has agreed to acquire flexible packaging firm Scholle IPN. (Credit: Scholle IPN)
SIG Combibloc Group has agreed to acquire flexible packaging solutions provider Scholle IPN for an enterprise value of €1.36bn and an equity value of €1.05bn.
Established in 1945, Scholle IPN offers total flexible packaging solutions such as barrier films and ergonomic fitments, as well as advanced filling and sealing equipment for bag-in-box and pouches.
The company provides packaging solutions for the customers in food and beverage segments, as well as non-food segments such as retail, institutional and industrial.
Scholle IPN chairman and owner Laurens Last said: “This combination is compelling for our customers, who will benefit from our capabilities and expertise in the liquid packaging industry.”
Scholle IPN, which extrude, laminate and print flexible and barrier films, has expertise in offering bag-in-box, aseptic bulk packaging, and advanced dispensing connectors.
With around 2,100 employees across the globe, Scholle IPN had reported revenue of €474m and adjusted EBITDA of €90m for the last 12 months ended on 31 December 2021.
The acquisition of Scholle IPN will enable SIG to strengthen its aseptic technology, in addition to expanding its applications in both pouches and bag-in-box. It will also allow SIG to enter into new segments such as wine and water.
SIG CEO Samuel Sigrist 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.”
Subject to customary closing conditions, the deal is expected to be completed by the end of the third quarter this year.
UBS Investment Bank served as an exclusive financial adviser to SIG on the transaction, while Latham & Watkins and Advestra acted as legal advisers to the company.
Last month, SIG agreed to acquire Asia Pacific Fresh operations (Evergreen Asia) from Pactiv Evergreen for an enterprise value of around $335m.