The takeover makes Saica one of a leading producer of recycled corrugated case material in Europe and the third largest producer of corrugated packaging in France.
The takeover of the French manufacturer of recycled corrugated case material (RCCM) and corrugated packaging Emin-Leydier by its Spanish competitor Saica, which has been announced for some time and recently approved by EU authorities, was sealed on 1 March. Both companies stated in a press release that the acquisition includes all shares in the company, including those of First Eagle Funds and the Emin and Leydier families. Saica is thus expanding its position as one of the leading manufacturers of recycled corrugated case material and corrugated board in Europe.
The transaction will add considerable capacities on top of Saica's existing production capacities, which in the case of RCCM amount to around 2.5 million tonnes per year. Emin Leydier increases Saica's paper capacity by 800,000 metric tons of paper and 360 million m² of corrugated board. Saica said the transaction makes it one of the leading European producer of RCCM and the third largest producer of corrugated packaging in France.
Emin Leydier operates a total of eight plants in France: two paper mills in Laveyron and Nogen-sur-Seine with a total of three paper machines, four integrated plants and two sheet plants. The company generated sales of around €380m last year and employs more than a thousand people. Emin-Leydier sells to customers in France and all over Europe, and its packaging customers are mainly in the food, industrial and e-commerce sectors.
Saica currently employs more than 9,000 people and is represented in Spain, France, Italy, Portugal, Great Britain, Ireland, Turkey, Luxembourg and the Netherlands. The businesses are divided into the divisions PAPER (corrugated case material), NATUR (recycling), PACK (corrugated board packaging) and FLEX (flexible packaging).
Saica expects the transaction to generate significant synergy effects.