Smith (DS) PLC Lantero's completion announcement (7854U)
August 03 2015 - 02:00AM
UK Regulatory
TIDMSMDS
RNS Number : 7854U
Smith (DS) PLC
03 August 2015
3 August 2015
DS Smith Plc
Completion of acquisition of Grupo Lantero's corrugated
business
DS Smith Plc ("DS Smith"), the leading provider of recycled
corrugated packaging in Europe, is pleased to announce the
completion of the acquisition of the corrugated activities of Grupo
Lantero ("the acquisition") on Friday 31 July, for approximately
EUR190m (c.GBP135m), following receipt of competition authority
clearance.
The business is a well-invested Iberian corrugated producer with
a strong focus in the FMCG sector, operating seven sites across
Spain. This acquisition significantly strengthens our operations in
Spain, an important and growing market for corrugated packaging,
taking our market share to approximately 10%. It also builds on our
recent acquisition of Andopack in calendar Q4 2014, where we have
seen a very positive customer reaction to our product and service
offering.
Miles Roberts, Chief Executive of DS Smith said:
"We are delighted to announce the completion of the acquisition
of the corrugated activities of Grupo Lantero. It is a high quality
business that we have known and partnered with for a number of
years and significantly increases our offering to Pan-European
customers in this large and growing market. It is a further
important step in our strategy to leverage our scale and strengthen
our geographic footprint and we look forward to working with Grupo
Lantero stakeholders and contributing to the overall growth of DS
Smith."
Enric Holzbacher, Chief Executive of Grupo Lantero added:
"We are very pleased to complete the handover of our corrugated
packaging business to our partner DS Smith. We are convinced that
DS Smith has a strong alignment within the FMCG sector and will
further develop our well established customer relationships. Grupo
Lantero has decided to strategically focus its activities on its
multinational rigid and flexible plastic divisions: Coexpan and
Emsur."
Enquiries
DS Smith Plc +44 (0)20 7756 1800
Hugo Fisher, Group Communications Director
Rachel Stevens, Investor Relations Manager
Bell Pottinger
John Sunnucks +44 (0)20 3772 2549
Ben Woodford +44 (0)20 3772 2566
NOTES TO EDITORS
DS Smith is a leading provider of corrugated packaging in Europe
and of specialist plastic packaging worldwide, operating across 34
countries and employing 25,400 people. Our vision is to become the
leader in recycled packaging for consumer goods through offering
great service, quality, innovation and environmental solutions to
our customers. For more information, visit www.dssmith.com
This information is provided by RNS
The company news service from the London Stock Exchange
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