SAICA - Acquisition of Americk Packaging Group

Deal summary

Catalyst advised Spanish multinational SAICA on the acquisition of the Americk Packaging Group, the fifth acquisition we have completed for SAICA.

The Americk Packaging Group is a leading independent producer of flexible packaging and labels headquartered in Dublin and located across six manufacturing sites in Ireland and the UK. The business employs circa 700 people with turnover last year of around £110 million. Americk has grown rapidly both organically and through M&A, having completed the acquisition of Adare Advantage in November 2015 following on from the earlier acquisitions of ASP Flexibles and Primopost.

Formed over 70 years ago, SAICA is a family-owned company with turnover of €2.4 billion in 2015. It is the leading European company for the development and production of recycled paper for corrugated cardboard, producing 2.5 million tonnes of recycled paper annually. Last year, the company took the strategic decision to diversify into flexible (plastic) packaging, the fastest-growing area of the packaging sector. Acquiring Americk has enabled SAICA to continue growing its European flexibles business, allowing it to offer a wider range of products and services to its customers.

 

What difference did we make?

Catalyst was asked by SAICA to undertake a strategic review of the UK flexible packaging market in late 2015 and to identify potential acquisition opportunities.

Following this strategic review SAICA mandated Catalyst to approach the main shareholder of Americk and negotiate to acquire the business. Catalyst led the approach to the shareholder and negotiated the key terms of the deal. Catalyst then project managed SAICA's acquisition process including the financial, legal and property due diligence. During the process, we navigated the impact from the European referendum as well as managing the Irish Competition and Consumer Protection Commission approval process.

This deal highlights Catalyst's ability to work with leading international businesses that want to build their UK presence through M&A by applying our deep sector expertise and buy-side experience to source and execute off-market acquisitions.

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