European recycled paper manufacturer Saica Group has announced the signing of an agreement to acquire a minority stake in Taschetti’s corrugated board plants in Italy.

The two Taschetti family-owned plants are ADDA Ondulati in Annone di Brianza, Lombardy, and Cartorobica in Pietrasanta, Lombardy.

For the financial year 2022, the corrugated board facilities recorded revenue of €105m ($114.3m).

The two plants currently have a total of 247 employees, of which 162 work at the ADDA Ondulati site and the remaining 85 at the Cartorobica plant.

Founded by the Taschetti family in 1949, the ADDA Ondulati plant reached a production milestone of more than 100 million square metres of corrugated cardboard in 2022, resulting in a turnover of €65m.

Meanwhile, the Cartorobica facility was founded by the family in 1972 and reached an output of more than 55 million square metres of corrugated cardboard last year, with a turnover of approximately €40m.

ADDA Ondulati president and Taschetti family representative Adriano Taschetti said: “We are honoured to welcome Saica into our family. The time has come to open our shareholding to an international group and we have found the ideal partner in Saica.

“We are sure that the partnership will be successful and will allow us to face future challenges with greater determination and efficiency.”

Saica employs more than 10,000 people and specialises in manufacturing recycled paper to make corrugated board, with a production capacity of 3.3 million tonnes of recycled paper every year.

The latest move is in line with Saica’s 2025 strategic priorities, which involve focusing on sustainable growth, as well as the expansion and development of its business model across Europe. 

Saica president Ramon Alejandro said: “This operation is a step forward as it allow[s] us to expand our footprint within the Southern European markets for corrugated board, in this case, by acquiring minority shares of plants in Italy.

“It is a great opportunity to increase Saica’s value proposition of sustainable packaging solutions for our customers.”