Acquisitions

Saica Group acquires a minority share of Pacapime in Belgium

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Saica Group has reached an agreement to acquire a minority share of Pacapime the Belgian corrugated cardboard company. Pacapime generated revenues of 61 million euros in 2022, and provides direct employment to 109 people.

With its origins going back to 1919 and now based in Halle, Belgium, Pacapime has a strong presence in the Benelux countries, France and Germany, with 80 per cent of its sales in the food sector. The company also shares Saica’s focus on sustainability, with a heavy use of recycled paper, its own solar panels that cover a third of its annual energy needs, and numerous water and energy efficiency measures in place.

«This partnership makes great sense for Saica, increasing our exposure to Northern European countries in the growing corrugated cardboard packaging market in which we are already leaders. Pacapime also shares our laser-eyed focus on sustainability and innovation, and we are confident that together, we will be able to bring our customers even better solutions and service as they seek to reduce the carbon footprint of their packaging» said Ramon Alejandro, president of Saica Group. One of Saica’s 2025 strategic priorities is focused on sustainable growth, developing its business model across Europe.

«Like Pacapime, Saica is a company rich in heritage and led by strong values, and we are delighted to welcome them as an investor and partner. Together, our additional scale and expertise will bring significant benefits for both parties and we are excited about the potential of this new international partnership» said Paul Pissens, owner at Pacapime.