SIG Combibloc Group AG has agreed a takeover deal for Scholle IPN. The packaging manufacturer based in Neuhausen am Rheinfall in the canton of Schaffhausen indicated that the purchase price amounts to 1.36 billion euros. According to a press release, the takeover is being financed by SIG shares from existing authorized capital and 370 million euros in cash. In addition, SIG will settle Scholle IPN's current debts. The transaction is expected to be finalized in the third quarter of 2022
Founded in 1945 and based in the US State of Illinois, Scholle IPN is the inventor of and global leader for bag-in-box packaging solutions with a capacity of up to 1,500 liters. Moreover, it is ranked number two for smaller, spouted pouch solutions. The company employs roughly 2,100 staff around the world and generated sales of 474 million euros in financial year 2021.
The takeover of Scholle IPN will consolidate SIG’s position as a “global leader in innovative and sustainable packaging for food and beverages”, comments Samuel Sigrist, CEO of SIG, in the press release. “It is consistent with our strategy of geographic and category expansion accompanied by share gains in key markets”, he adds.
In parallel to announcing the acquisition, SIG presented initial data for financial year 2021. According to the press release, core revenue growth of 6.6 percent to 2.05 billion euros was registered in the year under review, while adjusted EBITDA came in at 571 million euros. As a result, the margin in comparison with the previous year rose slightly by 0.3 percentage points to 27.7 percent. The dividend is to be increased by three cents to 0.45 Swiss francs per share, while SIG is sticking to its sales growth guidance of 4-6 percent per year.
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