Saica Group has announced the acquisition of Thimm Group, creating a stronger family-owned force in the European corrugated packaging market. The transaction brings together two long-established packaging companies with complementary geographic footprints, shared industrial values and a clear focus on sustainable paper-based solutions.

Thimm, founded in 1949 in Germany, is a leading provider of corrugated packaging and display solutions, with around 2,500 employees and operations in Germany, Poland, the Czech Republic and Romania. In 2024, the company generated revenues of approximately EUR 539 million and had a corrugated board packaging production capacity of around 1.2 billion square metres.

The acquisition reflects a broader trend in European corrugated packaging: scale, investment capacity and regional coverage are becoming increasingly important competitive advantages.

Saica Group, headquartered in Zaragoza, Spain, is one of Europe’s leading paper and packaging manufacturers. The family-owned company was founded in 1943 and generated revenues of around EUR 3.962 billion in 2025, with more than 12,000 employees. Its operations span recycled paper, corrugated packaging, waste management and environmental services, as well as flexible packaging.

The strategic logic of the deal is clear. Saica already operates 112 sites across Western Europe, Poland and the United States, while Thimm brings strong positions in Germany and Eastern Europe. Together, the two companies will improve their ability to serve customers across a broader European network, while maintaining continuity for employees and clients.

Thimm’s leadership described the sale as a long-term decision made after considering how best to secure the company’s future in a highly competitive market. The view expressed by the company is that only a smaller number of large players will be able to gain market share in the future. Joining Saica gives Thimm access to greater financial strength, investment capacity and a wider industrial platform.

For Saica, the acquisition strengthens its presence in markets where it previously had less coverage. Germany, in particular, is one of Europe’s most important packaging markets, with strong demand from consumer goods, ecommerce, food, industrial and retail sectors. Thimm also adds expertise in displays, transport packaging, shipping packaging and high-quality preprints.

• Thimm adds regional strength in Germany and Eastern Europe.
• Saica gains greater European coverage across corrugated packaging markets.
• Customers benefit from broader production capacity and continuity of service.
• Investment potential is expected in technology, digitalisation and sustainable solutions.
• Family ownership values are central to the strategic fit between both groups.

The acquisition also builds on a long relationship between the two companies. Saica and Thimm have worked together since the late 1990s through a strategic sales alliance and a joint venture in Poland. This history may help integration, as both companies already understand each other’s culture, customer approach and operating priorities.

Corrugated packaging remains one of the strongest segments in sustainable packaging because it is renewable, recyclable and supported by established recycling systems. However, the market is also under pressure from cost inflation, energy volatility, customer consolidation and the need for continuous innovation. Larger groups are increasingly better positioned to invest in automation, digital tools, lightweighting, improved printing and circular fibre systems.

The deal also underlines the importance of displays and retail-ready packaging. As brands compete for attention in stores and online channels, corrugated solutions are no longer only transport boxes. They are becoming communication platforms, merchandising tools and part of the customer experience. Thimm’s display expertise could therefore strengthen Saica’s value proposition beyond standard packaging supply.

Saica has stated that it intends to continue operating within existing structures, providing stability for employees and customers. This is important in packaging, where supply reliability, local service and technical knowledge are essential. Customers often depend on long-term relationships with packaging partners that understand their products, logistics and production schedules.

The transaction remains subject to approval by relevant antitrust authorities, and the purchase price has not been disclosed. If approved, the acquisition will create a larger European family-owned packaging group with a stronger position in corrugated board, sustainable packaging and circular economy services.

For the wider industry, Saica’s acquisition of Thimm is another signal that consolidation in paper-based packaging is accelerating. As customers demand sustainability, speed, innovation and supply resilience, scale will matter more. The companies that can combine regional proximity with investment strength and circular material expertise will be best placed to compete in Europe’s next phase of corrugated packaging growth.