Sappi acquires Cham Paper Group

Steve Binnie is the CEO of SappiThe company recently announced that all conditions precedent relating to the procurement of the speciality paper business of Cham Paper Group (CPG) have been fulfilled and completed.

The transaction includes the acquisition of CPG’s Carmignano and Condino Mills in Italy, its digital imaging business located in Cham, Switzerland and all brands and know-how.  

The deal brings with it many benefits, including:

The acquisition will add €183 million of sales and approximately €20 million of earnings before interest, taxes, depreciation and amortisation before taking into account synergies. It also builds on investments currently underway to increase specialities and packaging papers capacity at Sappi’s Somerset, Maastricht and Alfeld Mills, and unlocks growth potential for CPG.

‘I am very pleased that we have been able to finalise this acquisition so quickly. We are now able to move with speed to combine Cham’s strong brands, employees and assets with Sappi’s global presence. Our existing and new customers will benefit from a broader range of products coupled with our well-established excellent customer service. This transaction strengthens Sappi’s specialities and packaging papers business both in Europe and globally, improves our profitability and is another significant milestone towards realizing our Vision2020 goal,’ says Steve Binnie, CEO of Sappi.

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