SIG Group AG: SIG finalizes the acquisition of Scholle IPN | News

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[1].

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. ”

About SIG
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 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 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:

Lemongrass communication
Andreas Hildenbrand +41 44 202 5238

Disclaimer and Warning

The information contained in this press release and indicated in any link to our website is not intended for use in any country or jurisdiction, or by any person, if such use would constitute a violation of the law. If this applies to you, you are not authorized to access or use such information.

This press release contains forward-looking statements that are based on our current expectations, assumptions, estimates and projections for us and our industry. Forward-looking statements include, without limitation, any forward-looking statement that may, forecast, point to or suggest future results, results or achievements, and may contain words that may, will, should, continue, believe, anticipate, expect, estimate, intend, design, the plan is likely to be continued, possibly a result or words or phrases with similar meaning. You should not overly rely on such statements as, by their nature, forward-looking statements involve risks and uncertainties including, but not limited to, economic, competitive, governmental and technological factors beyond the control of SIG Group AG (SIG, Company or Group) that may cause SIG’s business, strategy or actual performance to differ materially from its forward-looking (or past performance) statements. For any factors that would cause actual results to differ materially from the forward-looking statements contained in this press release, please refer to our June 2020 Notice of Offerings Circular. SIG makes no commitment to publicly update or revise any of these, forward-looking statements that are intended to reflect new information, future events or circumstances, or otherwise. Furthermore, it should be noted that past performance is not a guide to future performance. It should also be noted that quarterly results do not necessarily indicate results for the full year. People needing advice should consult an independent advisor

The Company’s declaration and payment of any future dividends and the amount of such dividends will depend on SIG’s ability to maintain its credit rating, its investments, performance, financial condition, future prospects, earnings available for distribution, the consideration of certain liabilities in accordance with the terms of outstanding debt and any other factors deemed by the Directors to be relevant at any given time, subject to the requirements of applicable law at all times.

Some financial information in this press release has been rounded and as a result the numbers presented as totals in this press release may differ slightly from the exact arithmetic aggregation of the numbers that preceded them.

In this media release, we use some alternative performance measures including, but not limited to, EBITDA, Adjusted EBITDA, Adjusted EBITDA, Net Expenditure, Adjusted Net Income, Free Cash Flow and Net Leverage Ratio, which in any case are not defined in International Financial Reporting Standards (IFRS). These measures are presented because we believe that they and similar measures are widely used in the markets in which we operate as a means of assessing the company’s operating performance and financing structure. Our definition and method of calculating APMs described above may not be comparable to other similarly named measures of other companies and are not measures under IFRS or other GAAP, are not measures of financial condition, liquidity or profitability and are not should be treated as an alternative to operating profit for the period or operating cash flows determined in accordance with IFRS, nor should they be treated as a substitute for the information included in our consolidated financial statements. We caution you not to overly rely on any alternative performance measures and indicators not defined in IFRS contained in this press release.

Alternative Performance Measures

Additional information on management APMs that are not defined in IFRS, including the definitions and reconciliation with IFRS-defined measures, can be found at the following link:
[1] Unexplored

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