New investment Stora Enso has acquired De Jong Packaging Group, a company based in the Netherlands, for about €1.02 billion.
The acquisition is to “advance Stora Enso’s strategic direction, accelerate revenue growth and build market share in renewable packaging in Europe. De Jong Packaging Group is one of the largest corrugated packaging producers in the Benelux countries. Its product portfolio and geographic presence will complement and enhance Stora Enso’s offering, especially in fresh produce, e-commerce and industrial packaging,” Stora Enso said in a statement.
Owing to the deal, Stora Enso’s Packaging Solutions division will raise its corrugated packaging capacity by about 1.2 billion m2 to more than 2 billion m2 per year, according to the statement.
“This will secure a platform for continued growth in key markets. The European corrugated packaging market is fragmented, with local presence key for sustainable growth,” Stora Enso said.
Stora Enso buys Dutch packaging specialist
New investment Stora Enso has acquired De Jong Packaging Group, a company based in the Netherlands, for about €1.02 billion.
The acquisition is to “advance Stora Enso’s strategic direction, accelerate revenue growth and build market share in renewable packaging in Europe. De Jong Packaging Group is one of the largest corrugated packaging producers in the Benelux countries. Its product portfolio and geographic presence will complement and enhance Stora Enso’s offering, especially in fresh produce, e-commerce and industrial packaging,” Stora Enso said in a statement.
Owing to the deal, Stora Enso’s Packaging Solutions division will raise its corrugated packaging capacity by about 1.2 billion m2 to more than 2 billion m2 per year, according to the statement.
“This will secure a platform for continued growth in key markets. The European corrugated packaging market is fragmented, with local presence key for sustainable growth,” Stora Enso said.