Austria’s B&C Industrieholding (Vienna; www.bcgruppe.at) has bought 80% of compatriot film and packaging manufacturer Schur Flexibles (Wiener Neudorf; www.schurflexibles.com), with the rest of the 20% remaining with the current owner, US financial investor Lindsay Goldberg (New York, New York; www.lindsaygoldbergllc.com). Though financial details of the deal were not disclosed, B&C estimated the enterprise value of Schur Flexibles, including existing financing, at around EUR 900m when the transaction was agreed upon in May (see Plasteurope.com of 19.05.2021).

The Schur Flexibles group has 23 production sites in 11 European countries, a workforce of around 2,200, and annual turnover of EUR 590m. Since its takeover by Lindsay Goldberg in 2016, the film manufacturer had more than doubled its sales, driven primarily by acquisitions (see Plasteurope.com of 14.04.2021 and 01.07.2021). Towards the end of 2020, Schur entered a purchasing cooperation with competitor Bischof + Klein (B+K, Lengerich / Germany; www.bk-international.com – see Plasteurope.com of 27.11.2020).

B&C MD Thomas Zimpfer said, “As the new Austrian majority owner, we enable the company to grow internationally and at the same time strengthen Austria as a business and innovation location in the important packaging segment. The corporate headquarters of Schur Flexibles in Wiener Neudorf will act as a research and development centre for the entire Schur Group and will play a leading role internationally in innovative and sustainable packaging solutions.”