Once combined, the new company will employ nearly 8,000 people in 69 sales and manufacturing sites across the globe. The team will service blue chip customers on six continents. Their shared technology and R&D capabilities in renewable paper substrates, film extrusion, injection molding, and filling equipment are backed by an industry 4.0 manufacturing mindset and a drive to become the leading sustainable packaging partner on Earth.
Samuel Sigrist, CEO of SIG, said of combination of businesses, "The acquisition of Scholle IPN cements SIG's position as a global leader in innovative and sustainable packaging for food and beverages. It is consistent with our strategy of geographic and category expansion accompanied by share gains in key markets. By delivering clear benefits for customers, consumers, and the environment, we will drive value for shareholders."
The combination of SIG and Scholle IPN expands their collective exposure to growing and resilient end-markets. SIG's portfolio of market-leading sustainable food and beverage carton solutions will be expanded to include Scholle IPN's bag-in-box and spouted pouches for retail, institutional, and industrial customers.
Laurens Last, Chairman and owner of Scholle IPN, stated "I am excited about the future of the combined business, and I look forward to our joint innovation, with SIG further developing packaging substrates and solutions that are at the forefront of sustainability." Mr. Last will be nominated for election to the SIG Board of Directors at the company's Annual General Meeting on April 7, 2022.
Ross Bushnell, President and CEO of Scholle IPN, will continue to lead the legacy Scholle IPN business and will join SIG's Group Executive Board upon transaction close. Bushnell commented that "SIG and Scholle IPN are highly complementary businesses in terms of market approach and the importance of sustainability of our products. I believe that the combination of entrepreneurial spirit, nimble market response, and shared R&D capabilities will enable us to accelerate innovations for our customers and cement our collective market leadership in sustainable packaging solutions – particularly across aseptic and mono-material offerings which are key to packaging for the circular economy."