SAICA Group has reached an agreement with Taschetti to acquire a minority share in two of its corrugated board plants in Italy.
The plants, in Annone di Brianza and Pietrasanta, had a combined revenue of 105 million euros in 2022, and provide direct employment to 247 people.
“This operation is a step forward as it allows us to expand our footprint within the southern European markets for corrugated board, in this case, by acquiring minority shares of plants in Italy,” said Ramon Alejandro, president of Saica Group. “It is a great opportunity to increase Saica ́s value proposition of sustainable packaging solutions for our customers.”
Adriano Taschetti, president of Adda Ondulati S.p.A. and representative of the Taschetti family, added, “We are honoured to welcome Saica into our family. The time has come to open our shareholding to an international group and we have found the ideal partner in Saica. We are sure that the partnership will be successful and will allow us to face future challenges with greater determination and efficiency.”