SIG announces the successful completion of its acquisition of Scholle IPN. The business will be fully consolidated from 1 June 2022.
SIG announced on 1 February 2022 that it had entered into an agreement to acquire 100% of Scholle IPN. Scholle IPN is a leading innovator of sustainable packaging systems and solutions for food and beverages, with retail, institutional and industrial customers. It is the global leader in bag-in-box and number two in spouted pouches. In the twelve months ended 31 December 2021, Scholle IPN generated revenue of approximately €474 million and adjusted EBITDA of approximately €90 million1.
The strategic fit in terms of portfolio, geographies, categories, and technologies offers exciting 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 sustainable packaging systems. With this acquisition, SIG will be able to offer the most sustainable low-carbon packaging solutions across a wide range of categories and product sizes.
Ross Bushnell, formerly chief executive officer of Scholle IPN, has joined SIG’s Group Executive Board as President of Scholle IPN, an SIG company, as of completion. 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. Mr. Last received 33.75 million SIG shares as part of the consideration for the acquisition at completion and, with the additional shares he purchased in the open market, he currently holds 9.18% of SIG’s issued share capital.
Samuel Sigrist, chief executive officer of SIG, said, “We are delighted to welcome Scholle IPN to the SIG family. Together, we are looking forward to pursuing additional growth opportunities and developing exciting innovations for the food and beverage industry in sustainable barrier technologies and high-speed aseptic filling.”