Mondi’s European ambitions boosted by Schumacher Packaging acquisition
Corrugated and e-commerce segments in particular set to benefit from new assets that have an enterprise value of R12.2bn, JSE-listed group says
09 October 2024 - 16:37
Mondi CEO Andrew King is confident the company’s acquisition of several Schumacher Packaging assets will lead to a quick boost in earnings, more corrugated converting capacity and an expansion of its e-commerce offering.
The UK and JSE-listed paper and packaging group on Wednesday said it would buy Schumacher’s German, Benelux and UK corrugated converting and solid board operations (https://www.engineeringnews.co.za/topic/operations). Mondi didn’t disclose the price, but said the assets have an enterprise value of €634m (R12.2bn) and would be financed from existing facilities...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.