SIG completes Scholle IPN acquisition in €1.05B bag-in-box mega deal
02 Jun 2022 --- SIG has completed its acquisition of Scholle IPN for a reported €1.05 billion (US$1.2 billion), with the business being fully consolidated on June 1, 2022. In February, the aseptic systems and solutions provider entered into an agreement to acquire 100% of Scholle IPN, known for its bag-in-box capabilities.
Scholle IPN is an innovator of environmentally sustainable packaging systems and solutions for F&B, with retail, institutional and industrial customers. It is reportedly the “global leader” in bag-in-box and number two in spouted pouches.
In the twelve months ending December 31, 2021, Scholle IPN generated revenue of approximately €474 million (US$507 million) and adjusted EBITDA of approximately €90 million (US$96 million).
Boosting portfolio options
The strategic fit between the two companies in terms of portfolio, geographies, categories and technologies offers opportunities for customers, employees and shareholders. The combined group will be able to develop the business to new levels, using the joint know-how to grow and innovate faster while advancing its leadership in environmentally sustainable packaging systems.
The acquisition will drive SIG’s organic growth, especially in bag-in-box solutions.With this acquisition, SIG will be able to offer the most environmentally sustainable low-carbon packaging solutions across a wide range of categories and product sizes.
Ross Bushnell, former CEO of Scholle IPN, has joined SIG’s Group executive board as president of Scholle IPN. Laurens Last, the previous owner of Scholle IPN, joined SIG’s board of directors in April 2022 upon election at SIG’s Annual General Meeting.
Supporting organic growth
In February this year, SIG announced its intention to acquire Scholle IPN. PackagingInsights spoke with Ingo Büttgen, head of corporate communications at SIG, about the company’s strategy.
“We are focused on organic growth and only on highly selective acquisitions that have high synergies, a solid fit with our business and a clear [environmental] sustainability element.”
“Scholle IPN fits perfectly in this strategy. This is a strategic acquisition, but we are now focused on driving organic growth on this new platform,” said Büttgen.
By Natalie Schwertheim
