Clearwater International advises WEIG on its acquisition of Buchmann
Clearwater International has advised Moritz J. Weig GmbH & Co. KG (WEIG), a leading German producer of cartonboard and carton packaging solutions, on the acquisition of Kartonfabrik Buchmann GmbH (Buchmann), a German manufacturer of cartonboard. This acquisition makes WEIG the third largest player in the European white-lined chipboard market. The transaction is still subject to merger control approval.
WEIG is a family-owned group of companies, comprising the three business units packaging, cartonboard, and recycling. Within its cartonboard division, WEIG Group produces recycled cartonboard for the European folding carton industry as well as the global plasterboard industry. WEIG Group is headquartered in Mayen, Germany. With 1,500 employees and sales of over €800m, WEIG Group comprises companies in Germany and South America.
Buchmann is a family-owned business, producing recycled cartonboard for the European folding carton industry at its Annweiler site. The company’s products are used by the cartonboard packaging industry in the food and non-food sector. With 330 employees, Buchmann generates sales of around €190m.
The acquisition of Buchmann will contribute to WEIG’s strategic growth ambitions, increasing its presence in the paper industry. Together, both companies are significantly strengthening their market position, as well as optimising their product portfolio and sales volume, by combining their profound technological expertise.