Packaging
Saica Group acquieres a minority share of ADDA Ondulati and Cartorobica in Italy
Wednesday 06. September 2023 - Saica Group has reached an agreement with the family owners and has acquired a minority share of their corrugated plants in Annone di Brianza and Pietrasanta, Italy. These two plants have a revenue of 105 million euros in 2022, and provide direct employment to 247 people.
Saica Group has signed an agreement with Taschetti to acquire a minority share of these two corrugated board plants in Italy
Both plants currently employ 247 employees and have a revenue of 105 million euros in 2022.
Adda and Cartorobica are glad to welcome the new shareholder, sure to create a successful partnership
“This operation is a step forward as it allow 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” said Ramon Alejandro, President of Saica Group.
One of Saicas 2025 strategic priorities is focused on sustainable growth, developing our business model across Europe.
“We are honored 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” said Adriano Taschetti, President of Adda Ondulati S.p.A. and representative of the Taschettis Family.