DS Smith, leading provider of corrugated packaging and of specialist plastic packaging, completes its EUR 208 million acquisition of EcoPack and EcoPaper in Romania, a press release informs. The combined business is a leading integrated packaging and paper group in Romania.
The acquisition significantly increases DS Smith’s capacity to serve customers in a high-growth region as well as supporting the company’s existing operations in Eastern Europe.
“We are looking forward to working with our new colleagues in the Paper mill and Packaging site based in central Romania as we continue to strengthen our operations in this important growth market. We continue to grow strongly throughout Eastern Europe and this acquisition will help us meet the increasing demand in the region,” Miles Roberts, Group Chief Executive DS Smith, said.
DS Smith will retain the existing 400 employees and could increase the workforce as demand grows.
”EcoPack and EcoPaper bring both high-quality packaging assets and light-weight papermaking capability, which strongly support DS Smith’s product offering,” the release reads.
The family-owned EcoPack and EcoPaper have seen strong growth over many years and is well positioned in the local FMCG market.