May 18, 2022
Baobag, supported by its majority shareholder LBO France, pursues its international expansion with the acquisition of its Spanish competitor, Satucesa. Translink advised Baobag, a French specialist in the design and distribution of Big Bags, in its first European acquisition to become one of the top 3 players of the Spanish market.
Baobag was founded by the merger between Sacherie du Midi and Framapack in 2007. The company is a pure player in design and distribution of flexible intermediate bulk containers (FIBC), commonly known as Big Bags. Thanks to the development of long-lasting and exclusive relationships with trusted manufacturing partners and an in-depth knowledge of its customers’ requirements in a wide range of markets, Baobag is the leader in the French market for the design, import and distribution of Big Bags and has successfully entered the Moroccan and Spanish markets through organic growth.
Supported by its new majority shareholder since July 2021, LBO France, the Group acquired Satucesa to strengthen its presence in the Iberian market.
Satucesa, a Spanish company founded in 1993, became one of the leaders in the Spanish market. Managed by the founder Jordi Meler, the company reached a turnover of approximately €15m in 2021. Satucesa is based in Barcelona and employs eight people in its back office as well as a dozen sales agents located in Spain and Portugal. It owns a warehouse of 3,000 sqm providing the company with a powerful logistic base connected to the port of Barcelona.
This acquisition of a leading company in its market is in line with Baobag’s international development strategy. Through this operation, the Group also acquires a modern logistic center near a major Mediterranean port enabling significant synergies with its subsidiary, Baobag Iberica.
“Thanks to this operation, Baobag Group will achieve a turnover of €80m in 2022 and therefore become a major European and African player in the Big Bags market, while strengthening its position toward suppliers” says Fabrice Saffré, President and CEO of Baobag Group.
The Group’s ambition is to continue developing through both organic growth and via acquisitions in Europe and Africa. In this regard, new acquisitions are currently under consideration.
About Baobag
Since 1974, Baobag has designed, imported and distributed flexible packaging solutions for industry, agriculture, environment, specialized distribution and construction sectors. The Group has established itself as one of the European leaders in the supply of Big Bags, in particular by allowing its customers to have a personalized reference that meets their specifications. Indeed, research and development are an integral part of Baobag’s DNA. Many of their bags have thus become standards and are used as references in various sectors (food processing, waste treatment, etc.). Finally, Baobag and its manufacturing partners respect precise commitments in terms of sustainable development, labor rights and ethical business relations. These CSR standards are monitored through regular factory audits according to SMETA or ICS norms, in full transparency with some of the company’s customers. This innovative CSR policy has been awarded by the EcoVadis silver label since 2018, the global standard for CSR assessments.
About Satucesa
Founded in 1993 by taking over the activities of Iberica Slings, Satucesa is a Spanish specialist in the design, import and distribution of flexible packaging solutions mainly for the chemical and food industries. Satucesa has become a key player in the Iberian market thanks to a range of highly technical products, powerful logistics and a proven know-how. It has a portfolio of more than 400 well-known and demanding Spanish customers in leading industries.
Contact our Team Members advising in this transaction:
Headquartered in the city of lights, Paris, and with an office in the beautiful port city of Bordeaux, Translink CF France, formerly Financière Monceau CF, is an independent mid-market M&A boutique. Founded 10 years ago by finance entrepreneurs aged under 30, Translink CF France puts the emphasis on its entrepreneurial DNA when it comes to advising its clients.
Translink Corporate Finance Spain is the jewel of Iberian M&A firms. With more than 100 years of combined experience, Translink’s five lead partners have successfully advised over 300 transactions in a variety of sectors including: packaging, IT, food, industry, logistics, agribusiness, pharmaceutical and retail among others.
Arthur Libier
Translink France
Vice President
alibier@translinkcf.com
Jacques-Henri Rieme
Translink France
Partner
jhrieme@translinkcf.com
Stanislas Reinhart
Translink France
Analyst
sreinhart@translinkcf.com
