Back in February, beverage packager SIG announced that an agreement had been reached to take over Scholle IPN. The company has now successfully completed this takeover as of 1 June.
SIG announced on 1 February 2022 that the company had reached an agreement to acquire 100% of the shares in Scholle IPN. The company is the global leader in bag-in-box packaging and, according to the company, the number two in stand-up pouches. In 2021, Scholle IPN generated sales of around 474 million euros and an adjusted EBITDA of around 90 million euros.
Ross Bushnell, former Chief Executive Officer of Scholle IPN, is the new Chief Executive Officer of Scholle IPN. President Scholle IPN, a SIG company, is a member of the SIG Group Executive Board. Lauren's burden, the former owner of Scholle IPN, was elected at SIG's Annual General Meeting in April 2022. elected to the Board of Directors of SIG. He received 33.75 million SIG shares as part of the purchase price on completion of the transaction and currently holds 9.18 per cent of SIG's issued share capital following the purchase of further shares on the market.
Samuel Sigrist, Chief Executive Officer of SIG, said: „We are delighted to welcome Scholle IPN to the SIG family. Together, we will pursue additional growth opportunities and develop exciting innovations for the food and beverage industry in the areas of sustainable barrier technologies and high-speed aseptic filling."
Source: SIG
