B&C Group to purchase 80% stake in Schur Flexibles Group

Austria’s B&C Group has agreed to acquire an 80% stake in flexible packaging company, Schur Flexibles Group, from Lindsay Goldberg.

Private investment firm Lindsay Goldberg will retain a 20% interest in the company following the closing of the transaction, which remains subject to antitrust approvals.

Headquartered in Austria, Schur Flexibles offers high-barrier packaging solutions for the food, cosmetics and pharmaceutical industries.

The company – which has 22 production sites across Europe and employs more than 2,000 people – recorded sales of around €540 million in 2020.

Earlier this year, Schur Flexibles expanded its network in the Italian market with the acquisition of packaging specialist Sidac.

Founded in 2000, the B&C Group aims to promote Austrian entrepreneurship and holds stakes in three major listed industrial businesses through its holding companies. The B&C Group says that it aims to ensure that its portfolio companies’ research centres and headquarters remain permanently in Austria.

Commenting on the acquisition of the Schur Flexibles stake, Thomas Zimpfer, member of the management board of B&C Industrieholding, said: “Keeping the company headquarters and the know-how of a European market leader for innovative and sustainable packaging in Austria is important for our industry and the domestic business location.

“Almost all branches of our industry and economy – and especially the sensitive food and pharmaceutical sector – are now dependent on innovative packaging solutions, security of supply and short delivery times. This has also been shown worldwide during the Corona crisis.”

Michael Schernthaner, CEO of Schur Flexibles, added: “We are grateful to Lindsay Goldberg for its active, entrepreneurial support in the strategic development of the company as well as for eight value-enhancing acquisitions – and not least for the fact that Lindsay Goldberg will remain co-owner with a 20% interest. This shows strong commitment.

“The choice of our new majority shareholder B&C is also perfect for Schur Flexibles: B&C is a long-term, entrepreneurial owner with an outstanding reputation and a firm commitment to supporting the growth of Austrian business and research funding.”

The financial terms of the transaction have not been disclosed.