SIG Group AG / Keywords: Takeover of the company
SIG Group AG: SIG finalizes the acquisition of Scholle IPN
June 2, 2022
SIG AG Group (SIG)
SIG finalizes the acquisition of Scholle IPN
SIG today announces the successful completion of the acquisition of Scholle IPN. SIG will fully consolidate the activities of the IPN Scholle from June 1, 2022.
On February 1, 2022, SIG announced that the company had concluded an agreement to acquire 100% of shares in Scholle IPN. Scholle IPN is a leading innovator of sustainable food and drink packaging systems and solutions for retail, institutional and industrial clients. The company is a world leader in bag-in-box packaging and number two in stand-up bags. In 2021, Scholle IPN generated sales of approximately EUR 474 million and adjusted EBITDA of approximately EUR 90 million.
IPN’s SIG and Scholle are very well strategically aligned in terms of portfolio, geographic areas, categories and technology opportunities, offering exciting opportunities for customers, employees and shareholders. The expanded company will be able to take the business to a new level. It will use its combined know-how to grow faster and be even more innovative, while continuing to strengthen its leadership position in sustainable packaging systems. The acquisition enables SIG to offer the most sustainable, climate-friendly packaging solutions in a very wide range of product categories in various product sizes.
Ross Bushnell, former CEO of Scholle IPN, joins the Executive Committee of SIG as president of Scholle IPN, a SIG company, after completing the acquisition. Laurens Last, former owner of Scholle IPN, was elected to the Board of Directors of SIG at the General Meeting of SIG in April 2022. Received 33.75 million shares of SIG as part of the purchase price after the closing of the transaction and currently holds 9.18% of the issued share capital of SIG after purchasing additional shares on the market.
Samuel Sigrist, CEO of SIGsaid: “We are glad to welcome the IPN Scholle to the SIG family. Together, we will seek additional growth opportunities and develop exciting innovations for the food and beverage industry in the areas of sustainable barrier technologies and fast aseptic filling. ”
SIG is a leading provider of packaging solutions for a more sustainable world. We work with our customers to deliver food to consumers around the world in a safe, sustainable and affordable way. Our unique technology and exceptional innovation enable us to offer our customers one-stop solutions for diversified products, smarter factories and connected packaging to meet the ever-changing needs of consumers. Sustainability is an integral part of our business and we pursue a goal beyond good to create a positive food packaging system in the web.
SIG was founded in 1853 and is headquartered in Neuhausen, Switzerland. The competences and experience of our approximately 5,900 employees around the world allow us to quickly and effectively respond to the needs of our customers in over 70 countries. In 2021, SIG produced 42 billion packages and achieved sales in excess of EUR 2.0 billion. SIG has an AA ESG rating from MSCI, a 13.4 (low risk) rating from Sustainalytics and a platinum CSR rating from EcoVadis. Visit www.sig.biz for more information.
About Plaice of the Institute of National Remembrance
Scholle IPN, now part of SIG, is a leading global supplier of innovative, sustainable packaging solutions, including barrier film production, ergonomic functions and the most modern filling and closing lines for packaging and bag-in-box pouch racks.
Founded in 1947, Scholle IPN is headquartered in Northlake, Illinois, USA, and employs approximately 2,100 people worldwide. In 2021, Scholle IPN produced over 480 million bag-in-box packages with a volume of approximately 10 billion liters and over 3 billion stand-up bags. Visit www.scholleipn.com for more information.
Contact for investors:
Ingrid McMahon +41 52 543 1224
Investor Relations Director
SIG Combibloc Group AG
Neuhausen am Rheinfall, Switzerland
Contact for media:
Andreas Hildenbrand +41 44 202 5238
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