Saica today signed an agreement with the Italian Bertoldo family, owners of LIC Packaging, to increase its stake in the company. The Spanish manufacturer of recycled paper for corrugated board and flexible and corrugated packaging thus becomes LIC Packaging's majority shareholder.
Founded in 1952, LIC Packaging specializes in cardboard solutions for food packaging, e-commerce and POP. The company, located in Lombardy in northern Italy, is forecasting sales of 120 million euros for 2023, and directly employs 351 people.
The Bertoldo family will remain at the head of the company.
Saica, which employs over 10,000 people across Europe, acquired a minority stake in the company in 2001, enabling LIC Packaging to expand its facilities and open up to the international market.
This new operation "is a step forward" says Saica President Ramón Alejandro, enabling the Group to expand its footprint in the southern European corrugated board market. "This is an excellent opportunity to strengthen Saica's value proposition in sustainable packaging solutions for our customers."
For Piero Bertoldo, President of LIC Packaging and representative of the Bertoldo family, this operation enables the family business to "continue to grow as an international group".
