The Swiss Conzzeta group announced the signing of a binding agreement to divest its Schmid Rhyner business unit to the speciality chemicals group Altana, headquartered in Wesel, Germany. The closing of the transaction is expected by the end of Q1 2020, subject to regulatory approval.
Within Altana, Schmid Rhyner will be integrated into the Actega division. Actega develops and produces speciality coatings, printing inks, adhesives and sealants, focusing on the printing- and packaging industry as well as plastic compounds and thermoplastic elastomers for the healthcare industry. It has a global presence and generated EUR 353 million of sales in 2018, representing 15.3 % of Altana group sales.
The Schmid Rhyner business unit of Conzzeta generated net revenue of CHF 54 million (~ EUR 49 million) in 2018. Schmid Rhyner is specialised in print finishing with UV and water-based primers, overprint coatings and laminating adhesives. Over recent years, Schmid Rhyner pioneered the digital UV varnishing technology and created a new dimension of tactile effects for the printing and packaging industry.
Michael Willome, Conzzeta Group CEO, said: “Altana is the ideal partner. With a complementary product offering and the global market access, Actega provides the best possible perspectives for the employees of Schmid Rhyner. After the successful repositioning of Schmid Rhyner from commercial printing towards innovative packaging solutions over recent years, the time has come to open the next chapter. This is a further step towards the new focus of Conzzeta on the Bystronic business unit.”
Martin Babilas, Altana Group CEO, said: “In acquiring Schmid Rhyner, we are continuing to systematically pursue the Altana strategy of generating value-creating growth through targeted acquisitions.”
Thorsten Kröller, President of Actega, said: “With the acquisition we strengthen our competences in the area of overprint varnishes. It enables us to open up new markets and application areas, especially in the fields of flexible packaging and digital printing.“
Jakob Rohner, CEO of Schmid Rhnyer, said: “Our agreement reflects a compelling industrial logic. The two companies together will provide a comprehensive offering of UV and WB inks and varnishes. Our team openly embraces the opportunity of becoming part of Actega. Schmid Rhyner will benefit from the broadened distribution channels for future growth.”