Paper and board packaging firm Saica Group has entered an agreement to purchase a manufacturing plant in Sakarya, Turkey, from corrugated cardboard maker Norm Ambalaj.
The transaction is part of Saica’s business growth strategy to improve its service capacity and increase its product supply to customers in Turkey.
The plant will add 75 million square metres of corrugated board manufacturing capacity to Saica Group and increase the company’s product footprint in Turkey.
Saica Pack general manager Pascal Giraud said: “This operation is an opportunity to increase Saica’s value proposition of sustainable packaging solutions in the Turkish market.
“It will also optimise material and logistics costs for our customers while reducing Saica’s environmental impact.”
The transaction is currently subject to the approval of anti-trust authorities in Turkey.
Ernst and Young is serving as a financial consultant, while Bener is a legal consultant to Saica. PAE is acting as a legal consultant and 3SEAS is a financial consultant on behalf of the Norm Ambalaj group.
Saica entered Turkey in 2014 and made various investment projects to further develop its infrastructures and machinery, including the installation of a new corrugator machine in 2017.
Based in Spain, Saica manufactures recycled paper for corrugated cardboard in Europe. It has more than 10,000 employees across Spain, France, Italy, Portugal, the UK, Ireland, Turkey, Luxembourg, and the Netherlands. It produces 3.3 million tonnes of paper.
The company operates four divisions, which offer various services such as recycled paper products for corrugated cardboard (Saica Paper) and recyclable materials recovery (Saica Natur). It also provides corrugated packaging production (Saica Pack) and flexible packaging (Saica Flex).