MM Board & Paper acquires 230,000T German recycled fibre-based cartonboard mill

GERMANY – MM Board and Paper has signed an agreement with the RDM Group to acquire the operating business of the RDM Arnsberg recycled fibre-based cartonboard mill in Germany, which has an annual production capacity of approximately 230,000 metric tonnes.

The transaction, structured as an asset deal, is expected to close in the fourth quarter of 2026 subject to antitrust approvals, with financial terms remaining undisclosed. 

The Arnsberg mill specialises in liner products and will be integrated into MM’s existing industrial platform in Germany, which comprises several cartonboard mills and packaging plants. 

All employees at the mill will be transferred to MM. 

Supply Resilience and Recycled Fiber Focus

MM expects the acquisition to increase production flexibility, improve security of supply, and broaden its product and service offering for customers. 

The mill’s recycled fibre-based cartonboard production aligns with growing demand for sustainable packaging materials across European markets. 

RDM Group CEO Michele Bianchi stated that the sale supports the group’s strategy to focus on product categories with the strongest prospects for sustainable growth, innovation and value creation. 

The mill’s location in Arnsberg, North Rhine-Westphalia, provides access to Germany’s industrial heartland and established logistics networks, facilitating efficient distribution to customers across Europe.

Strategic Synergies and Market Context

By integrating the Arnsberg mill, MM expects to realise significant synergies that should facilitate the mill’s turnaround and complement its existing production network. 

The acquisition adds to MM’s core packaging operations and represents an investment in its recycled board capabilities. 

The deal comes as MM Group reported half-year 2026 adjusted EBITDA of €200.2 million (US$220.2 million), with its Fit-For-Future programme contributing €105 million (US$115.5 million) to mitigate lower selling prices in Board & Paper.

CEO Peter Oswald noted that market conditions remain affected by subdued consumer demand and higher transport, energy and paper-for-recycling costs, though the Arnsberg acquisition is expected to offer attractive synergy potential. 

The acquisition also reflects MM’s strategy of strengthening its position in the European cartonboard market, where demand for recycled fibre-based packaging continues to grow as brand owners seek sustainable alternatives to virgin fibre materials. 

The integration of the Arnsberg mill is expected to enhance MM’s ability to serve customers in the food, pharmaceutical and consumer goods sectors with high-quality recycled cartonboard solutions.

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