Saica adds 1.2 billion square meters of corrugated capacity following EU approval of Thimm takeover

A decisive step in European packaging consolidation

The European Commission has officially granted antitrust approval for the acquisition of the German-based Thimm Group by the Spanish paper and packaging giant Saica Group. Effective July 23, 2026, this regulatory clearance removes the final hurdle in a transaction that significantly alters the balance of power within the Central and Eastern European corrugated board market.

By absorbing Thimm's operations, Saica is executing a highly targeted geographical expansion. The deal includes nine corrugated board manufacturing plants located across Germany, Poland, the Czech Republic, and Romania, alongside a high-quality preprint facility in Ilsenburg, Germany. From a purely industrial standpoint, the figures are substantial: Saica immediately increases its annual corrugated cardboard production capacity by 1.2 billion square meters and welcomes 2,500 experienced professionals into its workforce.

Scaling up to secure market share

The strategic logic behind the acquisition reflects the core realities of the 2026 packaging sector. Volume, geographical proximity to major consumer brands, and integrated supply chains are no longer optional—they are prerequisites for survival. Before the acquisition, Thimm had generated approximately 539 million euros in revenue in 2024, operating as a highly respected, customer-centric supplier.

However, as Mathias Schliep, Chairman of Thimm's Board of Directors, noted when the deal was first structured, the European market's competitive density dictates that only large, integrated players will comfortably capture future market share. By uniting with Saica—which reported revenues nearing 3.96 billion euros in 2025 and employs over 12,000 people globally—Thimm's legacy and workforce secure a long-term future under a robust corporate umbrella.

Vertical integration and shared values

Beyond the raw metrics of capacity, the acquisition bridges two legacy family-owned businesses that have maintained commercial alliances and joint ventures since the late 1990s. For Saica, acquiring Thimm is not just an asset grab; it is a critical acquisition of market access. Germany remains the cornerstone of Europe's packaging demand, driven by its dense manufacturing base, robust food sector, and expansive retail networks. Thimm's established footprint gives Saica direct, frictionless access to these central European supply chains, a territory where the Spanish manufacturer had historically lighter penetration compared to its dominance in Western Europe.

Additionally, the inclusion of Thimm's advanced preprint facility in Ilsenburg brings high-value technical capabilities into Saica's portfolio. Preprint technology has become increasingly vital for brands demanding high-impact, retail-ready packaging and complex e-commerce displays without sacrificing the structural integrity of the corrugated board. Integrating these converting and printing assets with Saica's massive recycled containerboard production network creates immediate vertical efficiencies. Thimm's plants will benefit from a secure, internal supply of recycled paper, shielding them from the external volatility of the open containerboard market, while actively contributing to a closed-loop circular economy.

Susana Alejandro, President and CEO of Saica Group, highlighted the human element of the merger, stating that the knowledge and skills of the Thimm team are highly appreciated in the sector. She framed the acquisition as a major milestone to fulfill the company's strategic roadmap, which prioritizes local market development and comprehensive, sustainable packaging solutions.

The seamless integration of these two family-owned titans is a textbook example of smart, strategic scaling that prioritizes long-term operational continuity over short-term market disruption. As regional supply chains become increasingly integrated under mega-suppliers across Europe, will mid-sized independent converters be forced into deep niche specialties to survive? Follow The Paper for daily news, market signals and key updates from the global paper, corrugated and packaging industry. — Sigue toda la actualidad del sector en www.thepaper.ai