Cuatrecasas advises Saica on purchase of Cartonajes Bañeres
Cuatrecasas has advised the Saica Group, through its Saica Pack division, on the acquisition of a majority stake in Cartonajes Bañeres (CartoBan) and Electro Mariola, a company in which it has a full shareholding. The Saica Group increases its presence in the Spanish Levante region, consolidating its business growth strategy and enabling it to improve its service capacity, as well as increasing its supply to customers in this part of the country.
With more than 10,000 employees and an annual turnover of more than 3.5 billion euros, the Saica Group is one of the leading companies in Europe in the manufacture of recycled paper for corrugated cardboard. Through Saica Pack, its business line dedicated to the production of corrugated cardboard packaging, it has taken over CartoBan, a family-run company from Alicante that has been producing corrugated cardboard sheets and boxes since 1957. Electro Mariola, on the other hand, is a company that operates a cogeneration plant and is 100% owned by CartoBan. Between them, they had a turnover of more than 26 million euros in 2021.
The Cuatrecasas team advising the Saica Group on the transaction comprised of Antonio García Lapuente (pictured), managing partner of the Zaragoza office, Ignacio Liria Jordá, Carolina Artigot Pellicena and Pablo Villanova Caro.