Schur Flexibles Group has announced that it has acquired packaging specialist Sidac, which Schur states will allow them to “expand its network on the Italian market” by adding a “strong centre of excellence for customised and high-quality packaging solutions”.
With annual revenue of around € 34 million last year and a workforce of 120 employees, Sidac SpA has been a successful manufacturer of flexible packaging since 1929, particularly in the food, beverage, confectionery and animal feed segments.
Sidac is expected to “complement” 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.
In a statement, Schur Flexibles state that this integration “paves the way” for Sidac to gain access to the entire European market.
Luca Mazzotti, Managing Director of Sidac, commented: “As part of an internationally successful group, we can enhance the visibility of our strengths and competencies on the entire European market. 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.
The parties agreed to maintain confidentiality with respect to the purchase price.