B&C Group acquires majority stake in Schur Flexibles

The B&C Group acquires 80 per cent of the Schur Flexibles Group. The private equity investor Lindsay Goldberg remains a co-owner with 20 per cent of the shares in Schur Flexibles.

Schur Flexibles with Head office in Austria specialises in innovative, high-quality High-barrier packaging solutions for the food, cosmetics and pharmaceutical industries. Since Lindsay Goldberg's investment in Schur Flexibles in 2016, the team led by CEO Michael Schernthaner and Chairman Thomas Unger has increased turnover to EUR 540 million (2020). During this time, the number of employees grew from 1,200 to 2,100.

The company produces at 22 highly specialised locations in Western and Eastern Europe. With its integrated value chain from extrusion, printing and laminating through to extensive pouch production, Schur Flexibles is one of the industry leaders for flexible packaging in Europe. Schur Flexibles' packaging solutions have received several international awards for product innovation and sustainable overall solutions, including the WorldStar Award of the World Packaging Organisation (WPO) in spring 2021.

B&C Group: Commitment to Austria as a business location

Thomas Zimpfer, Member of the Management Board of B&C Industrieholding, explains: „The company headquarters and the expertise of a European market leader for innovative and sustainable packaging in Austria, is important for our industry and the domestic economy. Almost all sectors of our industry and economy - and especially the sensitive food and pharmaceutical sectors - are now dependent on innovative packaging solutions, security of supply and short delivery times. This has also been demonstrated worldwide during the coronavirus crisis.“

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„As the new majority owner of Schur Flexibles, B&C's aim is also to maintain the packaging specialist's headquarters in Austria and, in particular, to strengthen its position in the Expanding research and development, to further accelerate the international growth of the future majority Austrian Schur Flexibles Group. “ Herbert Ortner, Member of the Board of Trustees of B&C Private Foundation

Michael Schernthaner, CEO Schur Flexibles said: „We are grateful to Lindsay Goldberg for the active, entrepreneurial support in the strategic development of the company and for eight value-enhancing acquisitions - and not least for the fact that Lindsay Goldberg will remain a co-owner with a 20 per cent stake. This is shown by a strong signal. The choice of our new majority shareholder B&C is also perfect for Schur Flexibles: the B&C Group is a long-term, entrepreneurial owner with an excellent reputation and a clear commitment to supporting the growth of Austrian companies and promoting research.“

The transaction is expected to be finalised in around three months, subject to approval by the antitrust authorities.

[infotext icon]The B&C Group Since its foundation in December 2000, the aim of the Austrian entrepreneurship to promote growth. It is already the majority shareholder of the listed companies Lenzing AG, AMAG Austria Metall AG and Semperit AG Holding and also holds stakes in several technology and growth companies. [/infotext]