Saica Group acquires Americk Packaging
(Dublin, October 16, 2016) Americk Packaging have informed its employees, customers, suppliers and now the market of its recent acquisition by the Saica Group.
Subject to approval by the Irish Competition and Consumer Protection Commission, the Saica Group will acquire 100% of the Irish owned Americk Packaging Group of companies. Consisting of six manufacturing sites in Ireland and the UK, employing 691 staff plus additional operations PP Global and Starfish Brand Solutions who operate as independent brands in the same market. The group achieved a combined turnover in 2015 of around £110 Million.
Americk Packaging are keen to clarify the acquisition will not affect its current operations which will continue to be managed by the existing senior management team.
Formed over 70 years ago Saica are a family owned business. A market leader in Europe its core focus has been the development of sustainable solutions for the recycled paper and board packaging market. Saica’s owners are keen to add other packaging solutions to its portfolio. With more than 8,000 employees and presence in Spain, Italy, Portugal UK, Ireland, Turkey and Luxembourg, Saica produce 2.5 million tonnes of recycled paper per year.
Saica’s four divisions include recycled paper production for corrugated cardboard (PAPER), recyclable materials recovery (NATUR), production of corrugated packaging (PACK) and flexible packaging (Flex). The consolidated turnover of the multinational group in 2015 was nearly 2,378 Million Euros.
Americk Packaging’s CEO Patrick Doran stated;
“This approach has taken some careful consideration by me and our senior management team. Saica are a family run business with a strong code of ethics and compliance which has been of paramount importance when considering the fit with our business, culture and most importantly our staff and customer base.”
“I have informed our staff, customers and suppliers of this positive move that will catapult the Americk Packaging brand into the international packaging market; whilst adding value and opportunities for our loyal staff, customers and suppliers.”
Ramon Alejandro, President of SAICA, commented.
“This agreement allows us to enter the flexible packaging market in Ireland and the UK more actively, hand in hand with a leading player. Enabling the Saica Group to continue its development in the flexible packaging sector with the aim of offering a wider range of products and services to our customers.”
IBI Corporate Finance advised the seller on this transaction. Whitney Moore and Geldards LLP provided legal advice and PwC Dublin provided vendor assistance. (Source: press release)