As part of its long-term strategic development, Thimm Group has sold its industrial goods division Thimm Packaging Systems to Japanese group Rengo.
As part of its long-term strategic development, Thimm Group has sold its industrial goods division Thimm Packaging Systems. The buyer is Rengo, a Japanese group that operates around 100 facilities throughout the world. In Germany, Rengo operates Tricor Packaging & Logistics AG.
The sale of the industrial goods division is the result of Thimm’s decision to place its focus on the consumer goods division. The parties agreed not to disclose the purchase price. The takeover is still subject to the approval of the federal cartel office, which is expected to be granted in the course of the next few weeks.
Thimm Packaging Systems' portfolio comprises corrugated board packaging, reusable packaging made from expanded polypropylene (EPP), multi-material solutions in combination with padding made from PU-, PE- and PP-foams. The division had formed part of the family-owned company since 1993; it generated sales of €187m last year. Thimm Packaging Systems has 1,075 employees and operates seven locations in Germany and one in the Czech Republic.
"This sale is providing us with additional funds that will enable a new, independent financing strategy for our ambitious expansion of the consumer goods business. We plan to double our turnover by 2030,” explains Mathias Schliep, Chairman of the Management Board, Thimm Group.
Owing to above-average growth of e-commerce and fast-moving consumer goods (FMCG), the company’s demand for production and storage capacities has also been rising. Against this background, Thimm will massively expand its plants, modernise its machinery, and make consistent use of digitalisation and automation to position itself for the future. The company recently informed about its plan to spend €400m on automation, digitalisation, modernisation, and the expansion of all its locations over the next few years. Digital printing capacities will also be significantly expanded.
The family-run business has over 3,600 employees who work at 21 facilities in Germany, France, Poland, Romania, and the Czech Republic. Thimm recorded sales of around €698m in 2021.