Stora Enso’s corrugated packaging capacity will increase significantly with the purchase of De Jong Packaging Group.
Forest industry company Stora Enso has completed the purchase of the Dutch corrugated packaging manufacturer De Jong Packaging Group, the company said in a press release on Friday evening.
The acquisition was completed on Friday after consultation with the employees and approval from the authorities. De Jong’s company value is around one billion euros.
Stora Enso justified the transaction by saying that De Jong’s product range complements and improves Stora Enso’s offering, especially in packaging for fresh products, e-commerce and industry, in which the Dutch company specializes.
With the acquisition, Stora Enso’s Packaging Solutions division’s corrugated packaging capacity will increase from approximately 800 million square meters to more than 2,000 million square meters when De Jong’s expansion projects are completed.
According to Stora Enso, the deal also enables access to the Dutch, Belgian, German and British markets.
“This acquisition contributes to Stora Enso’s strategic direction by accelerating revenue growth and increasing our market share in renewable packaging in Europe,” said Stora Enso’s CEO Annica Bresky in the bulletin.
Stora Enso announced the deal at the beginning of September.
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