Highland Corporate acted as sole adviser on the sale of CIPASI to the Italian company Karton.

INDUSTRIAL TRANSACTION

We advised Hinojosa Packaging Group on the sale of its subsidiary Cipasi (Compañía Ibérica de Paneles Sintéticos) to Karton, an Italian family-owned group and a leading manufacturer of polypropylene sheets.

Highland Corporate has acted as exclusive advisor to Hinojosa.
2022

ADVISORS

Karton SpA was assisted by Credit Agricole as M&A advisor, Deloitte for financial and legal due diligence, etc., and Uria as legal advisor. Hinojosa was assisted by Highland Corporate as M&A advisor.

Highland Corporate acted as sole adviser on the sale of CIPASI to the Italian company Karton.

BACKGROUND

Hinojosa Packaging, a family-owned group and a leading European company specializing in sustainable packaging solutions. With more than 2,500 employees across various production plants in Spain, Portugal, and France, the group closed the 2021 financial year with total revenues of more than €600 million.

Cipasi: A specialist in packaging solutions and a pioneer in the manufacture of cellular polypropylene, also known as plastic cardboard, in Europe.

Karton, Spa: A leading group in the manufacture of polypropylene sheets. Its origins date back to 1967, when the Bressan family began producing corrugated cardboard. Today, Karton continues to develop and firmly believes in a sustainable development model, both economically and environmentally, optimally combining the dynamism of a medium-sized company with the technological culture and know-how of a large corporation.

TRANSACTION

For Hinojosa, this transaction aims to enable Cipasi’s further development and future growth through a company like Karton, whose core business is perfectly aligned with Cipasi’s, thus accelerating and facilitating all the necessary transformations that Cipasi was demanding.

The sale of this Hinojosa subsidiary, which belonged to the Spanish group since 1969 and currently represented a very small percentage of the group’s consolidated turnover, will allow Hinojosa to focus 100% on the production of cardboard-based packaging solutions.

For its part, with this acquisition, Karton gains entry into the Spanish market with ambitious growth plans, thus significantly expanding its presence in Europe.

Karton will retain 100% of Cipasi’s 38 employees with working conditions similar to those prior to the sale.