SPAIN – Sustainable solutions provider, Saica Group, Saica Group, has announced signing a new agreement to acquire a 100% stake in Ecovidal-Miguel Vidal e Hijos.
The companies have not disclosed the financial details and specific terms of this transaction.
The deal is anticipated to bolster Saica Natur’s presence in the Henares corridor, situated in the northeast region of Madrid, Spain.
Saica Natur operates as one of Saica Group’s four divisions. The corridor holds strategic importance, particularly concerning business, industrial, and residential prospects.
Ecovidal, established in 1953, operates as a waste management and collection company within Madrid’s Torrejón de Ardoz municipality.
The company boasts a warehouse covering approximately 16,000m². Currently, Ecovidal can manage about 53,000 tonnes of waste annually, predominantly paper and cardboard.
In 2022, Ecovidal generated a turnover of roughly €10 million (US$10.81m) and currently maintains a workforce of 25 employees.
Saica Group emphasizes its longstanding collaboration with Ecovidal, wherein the waste management company has been a key supplier of recycled paper to Saica Paper’s mills for over four decades.
Specializing in recycled paper production, particularly for corrugated boards, Saica Group has established its presence across various locations including the US, Luxembourg, Poland, Republic of Ireland, Turkey, France, Italy, Portugal, the Netherlands, and the UK.
Novvia acquires Ocean State Packaging
Meanwhile, Novvia Group, specializing in rigid container and life sciences packaging distribution, has revealed its acquisition of Ocean State Packaging.
The financial particulars and specific transaction details have not been disclosed by the companies.
For Novvia, this acquisition signifies its entry into the New England market within the US, representing a significant step in its broader strategy to expand throughout the Northeast region.
Bolstered by private equity firm Kelso & Company, Novvia offers diverse packaging solutions and tailored services to both domestic and international clients across various industries.
Under its umbrella, Novvia houses a portfolio of packaging brands including Container Supply, Fox Valley, Southern Container, Duval Container, and others.
Ken Roessler, Novvia’s executive chair, expressed enthusiasm for the union with Ocean State Packaging, acknowledging their 33-year history and welcoming them into the Novvia family.
Roessler also highlighted plans to invest in Ocean State’s markets, aiming to expand the footprint of Northeast-based employees, customers, and suppliers.
Orora completes acquisition of Saverglass
Finally, sustainable packaging manufacturer and distributor Orora has finalized the acquisition of Saverglass through the purchase of its holding company, Olympe.
In September of this year, Orora disclosed its intent to acquire Saverglass, including its holding company Olympe, for an enterprise value of A$2.15 billion (US$1.42bn).
Saverglass specializes in crafting bottles for premium and ultra-premium spirits and wines. Its operational network spans strategically positioned manufacturing units across three continents, catering to customers in over 100 countries.
This acquisition significantly bolsters Orora’s strategic position, scale, and diversification, presenting promising avenues for future growth.
Orora’s CEO, Brian Lowe, expressed delight at the finalization of the Saverglass acquisition, emphasizing its role in solidifying Orora’s foothold as a prominent global player in appealing premium segments.
Lowe conveyed eagerness to collaborate with Saverglass’ team, led by CEO Jean-Marc Arrambourg, as they embark on this exciting new phase in their collective journey.
Upon the announcement of the deal, Orora outlined that Saverglass would function as a third growth platform, operating under the joint leadership of Orora and Saverglass’ management teams.
The transaction is anticipated to yield mid-single-digit earnings per share accretion in the initial full financial year of ownership
Orora funded the acquisition through capital raised via institutional placement, accelerated non-renounceable entitlement offers, and extended global syndicated facility agreements.
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