Schur Flexibles Group Acquires Packaging Specialist Sidac
9 April 2021
The takeover of Sidac SpA enables the Schur Flexibles Group to expand its network on the Italian market by adding a strong centre of excellence for customised and high-quality packaging solutions. With its commitment to sustainability the modern production plant in Forli near Bologna also complements the growth strategy of Schur Flexibles Group in Europe.
With annual revenue of approx. EUR 34 million last year and a workforce of 120 employees, Sidac SpA located in Forli near Bologna has been a successful manufacturer of flexible packaging since 1929, particularly in the food, beverage, confectionery and animal feed segments. The product portfolio primarily encompasses complex laminates supplied on reels and used in the ready-to-eat convenience food and pet food segment (stand-up pouches). This comprises a market segment generating dynamic growth thanks to the reduction of material use while maintaining a high level of functionality as a sustainable packaging alternative.
An expansion step in an important market
Thanks to its high-performance facility for solvent recovery, Sidac also pursues the sustainable approach for a circular economy, which is the hallmark of Schur Flexibles. With its modern machinery park, today Sidac ranks among the leading players in Italy in alongside an attractive and steadily growing customer base from different industrial segments. In this way, Sidac complements the centre of excellence concept of Schur Flexibles Group, which develops and produces flexible packaging innovations in a completely integrated value chain at 22 production facilities located in eleven European countries.
“Italy is a significant growth market for us as a European player. Due to the acquisition of Sidac, we have gained an established partner for our regional expansion in Italy. In this case we can perfectly complement our competencies in the field of flexible packaging solutions in the food industry”, explains Michael Schernthaner, CEO of Schur Flexibles.
What the two companies share in common: innovative strength and entrepreneurial spirit
The integration in the Schur Flexibles Group also paves the way for Sidac to gain access to the entire European market. The local Sidac management, which has been responsible for the company’s strategic path for some 20 years, sees major opportunities resulting from joining forces with Schur Flexibles. “As part of an internationally successful group, we can enhance the visibility of our strengths and competencies on the entire European market”, Luca Mazzotti, Managing Director of Sidac, confidently states. “We are pleased that we will be able to serve as an even stronger partner for our existing customers from now on as well as for our future customers,” he adds.
The parties agreed to maintain confidentiality with respect to the purchase price.