DS Smith has recently completed its acquisition of the corrugated packaging business of Grupo Lantero. DS Smith Plc is Europe’s prominent provider of recycled corrugated packaging. The company is also one of the specialists in plastic packaging across the globe. With the help of approximately 25,000 employees, it operates in 34 countries.
DS Smith is committed to offer quality, great service, environmental solutions and innovations to its customers. On the other hand, Grupo Lantero is a renowned lberian corrugated packaging producer in Spain. The company has made its mark in FMCG sector over the years, operating through its seven sites.
This acquisition empowers DS Smith’s business in Spain, which is an emerging market for corrugated packaging. The deal has been finalized for approximately 190 million Euros, subject to closing adjustments. It has been financed from current cash sources.
Corrugated Packaging Business of DS Smith Gets a Boost
DS Smith is optimistic to have a return on the invested fund in the 2nd year of acquisition. The deal will take the company’s market stake to approximately 10%, strengthening its market position further after its acquisition of Andopack in the fourth quarter of 2014.
In that acquisition, DS Smith received an extremely positive customer feedback to their service offerings and products.
According to Miles Roberts of DS Smith, the company is extremely delighted with the acquisition of the corrugated packaging sector of Grupo Lantero. This acquisition will significantly increase the Pan-European customer base of the company in the large and expanding corrugated packaging market.
It is a significant step in line with the company’s strategy towards advancement of its business scale. It will also strengthen the geographic footprint of DS Smith. The company is now looking forward to an overall growth by working along with the shareholders of Grupo Lantero.
Enric Holzbacher of Grupo Lantero said that the company is very contented to finish the handover process of its corrugated packaging business over to DS Smith. He believes the strong customer base of Grupo Lantero will help DS Smith a lot towards its future expansion plans. Holzbacher also said that Grupo Lantero has decided to strategically put its focus on its multinational flexible and rigid plastic divisions namely Emsur and Coexpan.
To know more about DS Smith, you can take a look at the Short Form Consultants commercial finance website.