Clearwater International advises Cartonajes Bañeres, S.A. on its sale to Grupo Saica
Clearwater International has advised Cartonajes Bañeres, S.A. (CartoBan), a manufacturer of corrugated cardboard sheets and boxes, on the sale of a majority stake to Grupo Saica (Saica), a manufacturer of recycled paper, corrugated cardboard packaging and flexible packaging.
Founded in 1957 in Bañeres de Mariola, Alicante, Spain, CartoBan is a family business dedicated to the manufacture of corrugated cardboard sheets and boxes for the food, fruit and vegetable, and industrial sectors, among others. CartoBan specialises in short and medium print runs and has a highly diversified and recurring client portfolio. The transaction includes the purchase of Electro Mariola, a cogeneration company that is 100% owned by CartoBan. Both companies are located in Bañeres and showcased a total turnover of €26.1m in 2021, with a joint workforce of 111 employees.
Based in Zaragoza, Aragon, Spain, Saica is one of the leading companies in Europe in the manufacture of recycled paper for corrugated cardboard, with more than 10,000 employees and a presence in 10 countries. The Saica Group has four business lines; manufacture of recycled paper for corrugated cardboard (Saica Paper), waste management and environmental services (Saica Natur), production of corrugated cardboard packaging (Saica Pack), and flexible packaging (Saica Flex). In 2021 the group's turnover was €3.5bn.
The acquisition of CartoBan, which the group undertakes through its Saica Pack division, aims to increase the presence of Saica across the Spanish Mediterranean coast. With this transaction, Saica takes a step forward in its business growth strategy, allowing it to improve its service capacity and increase its supply to customers, both in the industrial and food sectors.