Deloitte Legal advises THIMM on Sale to SAICA
A multi-office Deloitte Legal team led by Hanover-based Deloitte Legal partners Dr. Harald Stang and Dr. Maximilian Habel advised THIMM Holding GmbH + Co. KG, the holding company of the Thimm family, on the sale of its shares in THIMM Group GmbH + Co. KG to the Spanish SAICA Group. Deloitte Legal provided legal support throughout the entire sale process, prepared and implemented restructuring measures both domestically and abroad, and advised on the drafting and negotiation of the transaction documentation. The closing of the transaction is subject to antitrust approval by the European Commission.
SAICA and THIMM have been successfully collaborating in a strategic sales alliance since the late 1990s. They also operate a joint venture in Poland. SAICA will continue to operate all THIMM Group locations in Germany and Eastern Europe within the existing structures. In doing so, the company ensures the greatest possible continuity and security—for both customers and employees.
As part of the acquisition, the Thimm family, the company’s current owners, is exiting the THIMM Group business.
“The transaction with the SAICA Group represents another milestone in the strategic development of the THIMM Group. The Deloitte Legal attorneys once again supported us with their professional expertise, extensive transaction experience, and deep understanding of economic contexts. As was the case with the sale of our THIMM Packaging Systems division in 2022, the collaboration proved to be extremely constructive, efficient, and based on trust. “We are pleased that we were able to build on this successful partnership for the transaction with the SAICA Group and are grateful for the long-standing, reliable, and trusting collaboration with the Deloitte Legal team,” said Holger Dunker, CFO of the THIMM Group.
Legal advisors to THIMM
Deloitte Legal: Dr. Harald Stang, Dr. Maximilian Habel (both lead counsel, Corporate/M&A Hanover), Anna Bethmann, Chantal Gundelach (both Corporate/M&A Hanover), Dr. Charlotte Sander, Daniela Wasseram, Anna Bock (all Employment Law, Hanover), Arne Wittig (Banking & Finance, Frankfurt/Main), Lars Hinrichs, Elisa Ultsch (both Employment Law, Hamburg), Johannes Passas, Julia Meyer (both Commercial Law, Hanover), Gunnar Fehringer (Real Estate, Hanover), Nikola Werry, Jan Rudolph (both Digital Law/Data Protection, Frankfurt), Sebastian von Rüden, Jana Brun, Sonja Beier (all Digital Law/Trademark Law, Frankfurt), Felix Skala, Katharina Zickermann (both Antitrust Law, Hamburg)
About THIMM
Thimm is a leading provider of sustainable corrugated cardboard packaging and display solutions. The product portfolio includes transport, shipping, and retail packaging for consumer goods, standardized retail displays, and high-quality pre-printed rolls for industrial further processing. With innovative and sustainable solutions, the company empowers its customers to effectively position their products in the market, thereby generating high customer satisfaction. Founded in 1949, the independent family-owned company now employs over 2,500 people at eleven locations in Germany, France, Poland, Romania, and the Czech Republic. In 2024, Thimm generated annual revenue of approximately 539 million euros.
About SAICA
The Saica Group offers sustainable paper solutions for the production of corrugated cardboard and packaging and promotes the circular economy in waste management. With more than 12,000 employees and a presence in Spain, France, Italy, Portugal, the United Kingdom, Ireland, Turkey, Luxembourg, the Netherlands, Poland, and the United States, the Saica Group is organized into four business divisions: the production of recycled paper for corrugated cardboard (Saica Paper), waste management and environmental services (Saica Natur), the production of corrugated packaging (Saica Pack), and flexible packaging (Saica Flex). The Group’s revenue amounts to 3.962 billion euros (consolidated revenue as of December 31, 2025).
