Scatolificio del Garda secures Spanish foothold with double acquisition in Tarragona

Strategic Expansion in the Iberian Peninsula

In a decisive move for the Southern European packaging landscape, Italy's Scatolificio del Garda (SDG) has finalized the acquisition of majority stakes in two Spanish converters: Graphi Red and Meraki Packaging. Executed in July 2026, this double acquisition firmly establishes SDG's industrial footprint in Tarragona, a strategic logistics and manufacturing hub for the Iberian market. The transaction catapults the Verona-based company past the €50 million revenue milestone, securing over €10 million in operating margins and expanding its workforce to 200 employees. Combined with its existing Italian facilities in Pastrengo and Boffalora, SDG now commands more than 70,000 square meters of production and logistics space.

Capitalizing on the 2025 Investment

This aggressive inorganic growth strategy is the direct result of the financial muscle injected into the company last year. In January 2025, Fondo Italiano d'Investimento acquired a majority stake in SDG through its Agri&Food fund (FIAF). At the time, CEO Luca Sandri explicitly outlined a roadmap for targeted acquisitions to consolidate the company's market leadership in paper-based food packaging. Eighteen months later, the Tarragona acquisitions prove that the execution of this business plan is running ahead of schedule. By integrating Graphi Red and Meraki Packaging, SDG is not merely buying revenue; it is acquiring established local relationships, specialized converting machinery, and immediate access to the Spanish and Portuguese markets.

Targeting High-Volume Sectors

The strategic rationale behind the Spanish expansion is heavily focused on high-volume, fast-turnaround sectors. SDG plans to leverage the Tarragona facilities to accelerate its penetration into the HoReCa (Hotel, Restaurant, and Catering), fast food, cinema, and industrial paper-based packaging segments. In 2026, the European foodservice industry continues its aggressive transition away from single-use plastics, driven by stringent EU regulations and shifting consumer preferences. Paper and corrugated board solutions are the primary beneficiaries of this shift. However, serving major fast-food chains and catering conglomerates requires immense scale, rapid response times, and localized production to minimize transport costs and carbon footprints. The new Spanish hub allows SDG to offer localized, just-in-time delivery of its renowned Bioplat line and other customized packaging solutions to Iberian clients.

Market Consolidation and Future Outlook

The European paper and board converting sector is currently experiencing a wave of consolidation. Mid-sized independent converters are increasingly partnering with private equity or merging to achieve the critical mass necessary to invest in advanced automation, digital printing, and sustainable material R&D. SDG's trajectory exemplifies this trend perfectly. By scaling up its operations across two major European economies, the company is positioning itself as a formidable mid-tier player capable of competing with multinational packaging giants in specific, high-value niches like eco-sustainable disposable tableware and custom food containers.

The successful integration of Graphi Red and Meraki Packaging demonstrates SDG's ability to execute complex cross-border M&A, transforming a regional Italian champion into a true European contender. Will the ongoing regulatory pressure on packaging waste force the remaining independent converters in Southern Europe to seek similar consolidation strategies before the end of the decade? 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