De Somer family: Pillar of Packaging and Gaming with a fortune of €275m
De Somer family
Van Genechten, the largest independent packaging producer in Europe, has a strong presence in the sector with twelve production units. These facilities contribute to the manufacture of over 200,000 tonnes of paperboard annually. The company employs approximately 1,600 people and generates consolidated sales of around 340 million euros and the family a fortune of over 250 million euros.
In addition to its core business, the company also plays a significant role in the manufacture of card games through a holding of 49 % in CartaMundi. 2009 marks the 175th anniversary of Van Genechten, which is preparing for the future under the leadership of the sixth generation of the founding family, embodied by Philippe de Somer and his 43-year-old son, Frédéric de Somer.
In the late 90s, Van Genechten had to adapt to competitive markets, leading to major restructuring following substantial financial losses. The high cost of labor in Belgium, in contrast to the high level of expenditure lower for Polish employeessymbolizes the cost challenges facing the company.
The growth strategy was marked by the major acquisition of the traditional board game production units of the giant Hasbro in 2015. These units, located in the United States and Ireland, have significantly expanded Cartamundi's portfolio with legendary brands such as Monopoly.
In addition, 2019 saw Cartamundi strengthen its presence in the US market by acquiring USPC, a manufacturer of iconic trading cards. Growing interest in "cardistry", art made with playing cards, closely aligns USPC to Cartamundi's vision, supported by brands such as Copag and now Bicycle, renowned for its limited editions so coveted by collectors.
The Covid-19 pandemic in 2020 led to an unprecedented boom for Cartamundi, driven by increased demand for card and board games. Despite factory closures at the beginning of the year, the mid-year upturn saw an influx of orders exceeding production capacity, propelling sales to an all-time high of 493 million euros, and the De Somer Family has assets of over €275,289,220
