As part of its long-term strategic development, Thimm Group, a German provider of packaging and distribution solutions for goods, has sold its industrial products division Thimm Packaging Systems. The buyer is Rengo, a Japanese group that operates around 100 facilities throughout the world. In Germany, Rengo operates Tricor Packaging & Logistics AG.
The sale of the industrial goods division is the result of Thimm’s decision to place its focus on the consumer goods division. The parties agreed not to disclose the purchase price. The takeover is still subject to the approval of the federal cartel office.
Thimm Packaging Systems’ portfolio comprises corrugated board packaging, reusable packaging made from expanded polypropylene (EPP), multi-material solutions in combination with padding made from PU-, PE- and PP-foams. The division had formed part of the family-owned company since 1993; it generated sales of €187m last year. Thimm Packaging Systems has 1,075 employees and operates seven locations in Germany and one in the Czech Republic.
As Mathias Schliep, chairman of the Management Board, Thimm Group explains, «this sale is providing us with additional funds that will enable a new, independent financing strategy for our ambitious expansion of the consumer goods business. We plan to double our turnover by 2030». In addition to innovation and sustainability, as an independent family business, Thimm continues to keep an eye on market developments, where further expansion of sustainable packaging solutions for the circular economy is becoming increasingly important. Owing to above-average growth of e-commerce and fast-moving consumer goods (FMCG), the company’s demand for production and storage capacities has also been rising. Against this background, Thimm will massively expand its plants, modernise its machinery, and make consistent use of digitalisation and automation to position itself for the future. This will be applied to all Thimm Group locations. Digital printing capabilities will also be greatly expanded. The company recently informed that this its expansion plan will involve a robust investment of EUR 400 million.
Thimm reported revenues of about EUR 698 million in 2021.