Germany-based Thimm Verpackung to acquire corrugated packaging division of Poland's Tektura Opakowania Papier, which will be jointly owned by Thimm and Spanish company Saica
July 18, 2011
– German company Thimm Verpackung has signed an agreement to acquire the corrugated packaging division of Tektura Opakowania Papier (TOP), a company based in the southern Polish town of Tychy. The manufacturer of corrugated board transport and sales packaging, which achieved a turnover of 17 million euro in 2010, employing 170 people, will be taken over after approval by the Polish anti-monopoly office. The company will be jointly owned by the Northeim-based packaging specialist Thimm, with a 51 percent stake, and Spanish company Saica (S.A. Industrias Celulosa Aragonesa), with a 49 percent stake. These two family businesses have been working together in a strategic sales alliance since the late 1990s. TOP’s paper and board divisions are not part of the acquisition deal.
Jeremiasz Zaleski, General Manager of TOP Packaging Division says: “My colleagues and I are delighted that we have been acquired by two such prestigious international Companies who have previously not been present in the Polish market. Significant additional investment is planned, to increase our capacity and widen our capabilities, which we are confident will make TOP an even more attractive supplier to an extended range of local, national and multi-national customers.”
This move into the Polish market will also allow Thimm Verpackung to continue its growth strategy in Central & Eastern Europe. The Northeim-based family business is already operating its own production facilities in the Czech Republic and Romania. With the newly acquired plant in South Poland, Thimm is now in a position to serve much of Poland and neighbouring export markets. The company thus increases its appeal, especially to major international key accounts. Such companies are increasingly centralising their purchasing and therefore select European suppliers who can offer services over extensive geographical areas.
Jens Fokuhl, Managing Director of the Thimm Group explains: ‘Strategic takeovers such as the acquisition of TOP in Poland are key part of our growth strategy. We thus continue to focus on the internationalisation of our business and are developing the largest Eastern European market in the EU for our packaging operations.’ Per-capita consumption of corrugated cardboard in Eastern Europe currently lies well below that of Western Europe. Thimm expects substantial growth thanks to positive economic development in the region, especially in Poland.
Fokuhl continues: ‘Both TOP's business model and their client and product portfolio match our operations ideally. TOP specialises in high-quality printed packaging, their technical facilities are good.’ These factors were pivotal in Thimm’s decision to enter the Polish market through acquisition.
Susana Alejandro, Managing Director of Saica Pack says: “The acquisition is part of Saica’s long-term strategy to become a global player in Europe. Saica has ambitious expansion plans with regard to corrugated business in Poland in order to strengthen Saica’s long term commitment to its customers and the key importance of the Polish market for the group.”
Thimm has been working together with well-positioned companies such as Saica for many years with the aim to furthering its internationalisation based on a long-term strategy and is planning to achieve further growth within the framework of strategic partnerships and investments.