Schur Flexibles Group has expanded its network in the Italian market with the acquisition of packaging specialist Sidac for an undisclosed sum.
As part of the deal, Schur Flexibles will gain access to Sidac’s production plant in Forli, near Bologna and its portfolio of packaging solutions.
Founded in 1929, Sidac is a manufacturer of flexible packaging with a focus on the food, beverage, confectionery and animal feed segments. The company’s portfolio primarily consists of complex laminates supplied on reels, which are used for ready-to-eat convenience food.
Last year, Sidac recorded annual revenues of approximately €34 million and a workforce of 120 employees. Schur Flexibles also highlights Sidac’s facility for solvent recovery, which complements its own circular economy objectives.
The acquisition supports the Austria-based company’s growth strategy in Europe. Schur Flexibles produces flexible packaging at 22 facilities located across 11 European countries. In 2019, Schur acquired Swedish packaging specialist Scandiflex Pac to bolster its capabilities in the Nordic region.
“Italy is a significant growth market for us as a European player. Due to the acquisition of Sidac, we have gained an established partner for our regional expansion in Italy. In this case we can perfectly complement our competencies in the field of flexible packaging solutions in the food industry,” said Michael Schernthaner, CEO of Schur Flexibles Group.
Meanwhile, the integration into Schur Flexibles will reportedly provide Sidac access to the entire European market.
“As part of an internationally successful group, we can enhance the visibility of our strengths and competencies on the entire European market. We are pleased that we will be able to serve as an even stronger partner for our existing customers from now on as well as for our future customers,” said Luca Mazzotti, managing director of Sidac.
© FoodBev Media Ltd 2020
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