DS Smith, a leading provider of recycled corrugated packaging, has announced the acquisition of Duropack, for €300 million, subject to competition clearance.
Vienna-based Duropack is a recycled corrugated board packaging producer with interests across South Eastern Europe. It is currently owned by CP Group 2 BV, a One Equity Partners subsidiary.
Duropack posted a turnover of €273 million in 2014.
In a statement, DS Smith said that "the acquisition is highly complementary to DS Smith’s geographic footprint and transforms our position in higher-growth South Eastern European geographies, further strengthening our pan-European capabilities to our existing customer base in addition to providing access to new customers."
The deal is expected to be completed by the second quarter of this year.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones.
