The Swiss packaging company announced the acquisition of Pactiv Evergreen Inc. in Asia at the beginning of the year. The Swiss company has now finalised the takeover.
On 5 January 2022, the SIG announced that the company has reached an agreement to acquire Evergreen Asia. Evergreen Asia is a leading systems supplier of filling equipment, carton packaging, closures and services for chilled products such as milk and non-carbonated soft drinkswith production facilities in mainland China, Taiwan and South Korea.
In 2021, Evergreen Asia generated sales of around 135 million euros and an adjusted EBITDA of around 24 million euros. SIG has acquired Evergreen Asia at an enterprise value of USD 335 million and expects to realise synergies of around EUR 6 million.
According to the company, the takeover opens up new growth opportunities for SIG in Asia, where demand is growing strongly, especially in the fresh milk sector in China. Evergreen Asia enables SIG to further develop existing customer relationships with national dairy companies and provides access to new customers at regional and local level. SIG intends to utilise its research and development know-how, its innovative capacity and its marketing expertise to introduce further innovative packaging formats in this market segment.
Source: SIG
