Saica Continues its International Expansion with the Acquisition of the Dutch Schut, Hellema and Lemapack
Zaragoza, 23 Dec 2016
The Spanish multinational company, Saica, has reached an agreement for the 100% acquisition of the Dutch companies Schut, Hellema and Lemapack which belong to Flexible Packaging Holding (FPH). Schut and Hellema produce flexible packaging mainly for the food and tobacco industry, and Lemapack is a flexible packaging trading company with sales at a worldwide level. With this agreement, Saica takes a step further in its diversification and international growth strategy, with its introduction into the Netherlands.
The companies Schut, Hellema and Lemapack have two production plants in the Netherlands that, altogether, employ around one hundred people with a turnover of 53.1 million euros in 2015.
This acquisition allows Saica to continue developing in the flexible packaging market with the aim of offering a wide range of products and services to its clients.
“This operation allows Saica to firmly consolidate itself in the flexible packaging market in Western Europe at the hand of a first class actor. We have reached this agreement thinking long-term and seeing the potential to develop this sector in the future”, stated the president of Saica, Ramón Alejandro.
The purchase has been carried out with NIBC Bank acting as Saica’s financial advisor, with the legal advice of Loyens & Loeff and the financial audit of PwC.
Schut is one of the oldest packaging manufactures in the Netherlands. The company was originally set up in Schiedam in 1932, but in the 50s it was moved to Etten-Leur. It started its life as a manufacturer of wax paper for the food industry, but the company gradually started to increase its product catalogue, offering flexible packaging to the food and tobacco industry. Schut employs around 67 people and in 2015 it had a turnover of 23.7 million euros.
Hellema was created in 1906 in a bakery that created its own packing for its products. These days Hellema Packaging is a credible company in the food industry (focusing mainly on bakeries) located in Zaadam in the Netherlands. Hellema employs around 31 people and in 2015 it had a turnover of 9.9 million euros.
Lemapack offers flexible packaging solutions to clients around the world. From its headquarters in Weesp, Lema combines its experience and know-how in the flexible packaging sector with a prestigious network of packaging manufacturers in Europe, the Middle East and China, as well as with its own facilities in the Netherlands. Lemapack employs seven people and in 2015 it made a figure of 19.6 million euros.
About Saica Group