DS Smith Acquires Romanian Packaging Company
Packaging firm DS Smith has announced that it plans to acquire Romanian packaging and paper groups, EcoPack and EcoPaper, for a value of around €208 million.
The company says that these acquisitions will 'significantly enhance' its capacity in the region, and support its wider Eastern European business.
EcoPack and EcoPaper manufacture paper and packaging solutions for the local FMCG market, which DS Smith says is 'very complementary' to the company's existing customer and asset base.
"We continue to grow very strongly throughout Eastern Europe," said Miles Roberts, chief executive of DS Smith.
"This exciting acquisition will further expand our position and capability, providing an important platform for the continued development of our innovative 'performance packaging' programme in the region."
Completion of the deal is expected within the company's third fiscal quarter, following approval from the Romanian Competition Authority.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.