British DS Smith announced on Wednesday the acquisition of the paper and packaging business of the Romanian group EcoPack and EcoPaper for approximately 208 million euros, as part of its efforts to expand its operations in Eastern Europe.
The British manufacturer of corrugated cardboard packaging, recycled paper, and plastic packaging emphasizes that the acquisition of the family-owned group EcoPack and EcoPaper based in Romania will provide them with an exceptional opportunity for further growth and achieving significant synergies.
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– We continue to grow very strongly across Eastern Europe. With this exciting acquisition, we will further expand our position and capabilities, providing an important platform for the continued development of our innovative packaging program in the region, said DS Smith CEO Miles Roberts, according to the statement.
To finance the planned acquisition, DS Smith will use cash and debt instruments, along with DS Smith shares worth 35 million euros, announced the British company, which has been present in Croatia for many years in the cardboard and paper packaging production segment, as well as in the recycling of waste packaging and paper and integrated recycling and waste management services.
