TOP Packaging is a joint venture of THIMM Group with 51% stake and Saica Group with the remaining 49% interest
Image: Thimm Group management board chairman Mathias Schliep. Photo: courtesy of THIMM THE HIGHPACK GROUP.
Poland-based TOP Packaging has agreed to acquire Polish supplier of corrugated cardboard packaging, United Packaging, for an undisclosed amount.
TOP Packaging is a joint venture of THIMM Group with 51% stake and Saica Group holding the remaining 49% interest.
The deal is a part of Thimm Group, which leads the JV, efforts to expand its business in the country.
TOP Packaging will takeover United Packaging’s plant in Poland
Subject to approval by the Polish cartel office, the transaction involves the takeover of the United Packaging’s plant with over 100 employees.
Thimm Group management board chairman Mathias Schliep said: “Our expanded presence in Poland due to this acquisition will enable us to provide an even better supply to our Polish and international customers.
“This is also the next step forward in our Europe-wide competence in supplying prominent consumer goods manufacturers. This will enable us to further develop our company over the medium term and to align ourselves with precision to the needs of regional and multi-regional customers.”
Established in 2011, TOP Packaging reported revenues of about €40m in 2018. It employs over 240 people.
Thimm said in a statement: “The Polish market is one of the most important markets in Central and Eastern Europe with its distinguishing features being stable growth rates, numerous regional companies and an increasing number of big international corporations.
“With this expansion of its production capacities, THIMM is pursuing its growth strategy whilst at the same time enhancing its customer proximity through shorter delivery distances thanks to the new location in Skarbimierz.”
In May 2019, Thimm has developed new corrugated cardboard baking shells for baked meat for Germany-based Nette Papier.
Certified and completely recyclable, the new corrugated cardboard is made using 100% fresh fibre paper.
Thimm Group is engaged in providing solutions for the packaging and distribution of goods.
The firm’s portfolio comprises corrugated cardboard transportation and sales packaging, high-quality promotional displays, packaging systems combining a range of materials and print products for further industrial processing.
Employing more than 3,200 people, the family-owned business operates 19 sites in Germany, Czech Republic, Romania, Poland and Mexico.