Consumables
Stora Enso completes the acquisition of De Jong Packaging Group
Monday 30. January 2023 - With the acquisition, Stora Ensos Packaging Solutions division will increase its corrugated packaging capacity by approximately 1,200 million m2 to more than 2,000 million m2, including De Jong Packaging Groups ongoing expansion projects.
Stora Enso has completed the acquisition of the Netherland-based company De Jong Packaging Group, one of the largest corrugated packaging producers in the Benelux countries. The acquisition announced in September 2022 with an enterprise value of approximately EUR 1,020 million was closed today following regulatory clearances and employee consultation.
The acquisition will significantly strengthen Stora Ensos presence in European packaging markets and provide an entry into the corrugated packaging market in the Netherlands, Belgium, Germany and the UK. With the acquisition, Stora Ensos Packaging Solutions division will increase its corrugated packaging capacity by approximately 1,200 million m2 to more than 2,000 million m2, including De Jong Packaging Groups ongoing expansion projects. De Jong Packaging Groups full year 2022 sales is estimated at approximately EUR 1 billion. Its product portfolio and geographic presence complement and enhance Stora Ensos offering, especially in fresh produce, e-commerce and industrial packaging.
“I am pleased to officially welcome De Jong Packaging Group as part of Stora Enso. This acquisition advances Stora Ensos strategic direction by accelerating revenue growth and building market share in renewable packaging in Europe,” says Annica Bresky, President and CEO at Stora Enso.