SAICA Group acquires THIMM Group
11.06.2026
We advised Sociedad Anonima Industrias Celulosa Aragonesa on the acquisition of THIMM Group GmbH + Co. KG. The scope of our advisory covered the Polish aspects of the transaction and the legal due diligence of the Polish companies within the THIMM Group: Top Packaging S.A., Thimm Opakowania sp. z o.o., Top-Thimm Opakowania sp. z o.o.
We were part of an international legal team coordinated by Gleiss Lutz.
SAICA Group, headquartered in Zaragoza, is one of the leading European paper and packaging manufacturers. SAICA Group operates 112 plants across Western Europe, Poland and the United States. In 2025 it generated revenues of approximately EUR 3.962 billion, employing over 12,000 people.
THIMM Group, a leading supplier of sustainable corrugated packaging and display solutions, generated revenues of approximately EUR 539 million in 2024, employing around 2,500 people.
The firm’s work was supervised by Adam Pawlisz. The team included: Mateusz Próchnicki (team coordinator, corporate/M&A), Maciej Wierzchowiec (corporate/M&A), Marcin Rżysko (real estate), Rafał Pytko (energy), Monika A. Górska (intellectual property), Patryk Jackiewicz (banking & finance), Tomasz Pleśniak (employment), Adrianna Ogonowska (environmental), Marcin Kulesza (competition), Marta Grodzki (state aid), Natalia Nieróbca (regulatory), Anna Olejniczak-Michalska (compliance/litigation), Łukasz Rutkowski (data protection).