Saica Group Acquires Thimm Group

The owning family of the Thimm Group has agreed to sell the corrugated packaging manufacturer to Spain-based Saica Group, creating one of Europe’s largest family-owned paper and packaging businesses.

Founded in 1949 by Walter Felix Thimm, Thimm Group produces approximately 1.2 billion square meters of corrugated board packaging annually and employs around 2,500 people across Germany, Poland, the Czech Republic and Romania. The company generated revenue of approximately EUR 539 million in 2024.

Saica Group, headquartered in Zaragoza, Spain, is one of Europe’s largest paper and packaging manufacturers. Established in 1943, the family-owned company reported revenue of approximately EUR 3.96 billion in 2025 and employs more than 12,000 people globally.

Mathias Schliep, Chairman of the Board of Directors at Thimm Group, said the decision followed a strategic review of the company’s long-term position in an increasingly competitive European packaging market.

“We therefore decided to sell the company to the largest family-owned company in the European industry in order to secure Thimm’s growth prospects and long-term future under a strong umbrella,” Schliep said.

Saica currently operates 112 sites across Western Europe, Poland and the United States. Thimm’s operations are concentrated in Germany and Eastern Europe. According to the companies, Saica plans to continue operating the business within its existing structures to ensure continuity for customers and employees.

The two companies have collaborated since the late 1990s through a strategic sales alliance and a joint venture in Poland. Schliep said the two family businesses share similar cultures and long-standing relationships across generations.

Susana Alejandro, President and CEO of Saica Group, said the acquisition would strengthen Saica’s presence in markets where it has not previously operated.

“Together with Thimm, we see significant potential to further strengthen our leading position in the highly competitive European market,” Alejandro said.

As part of the transaction, the Thimm family will fully exit the business. The purchase price has not been disclosed.

The transaction remains subject to approval by relevant antitrust authorities.