The acquisition of Bosis doo is expected to boost DS Smith’s expansion efforts in Eastern Europe and is complementary to its current regional packaging operation there
DS Smith to acquire Bosis doo. (Credit: DS Smith)
British sustainable packaging provider DS Smith has signed an agreement to purchase Serbian packaging company Bosis doo for an undisclosed sum.
The acquisition is expected to boost DS Smith’s expansion efforts in Eastern Europe and is complementary to its current regional packaging operation there.
According to the sustainable packaging provider, Bosis doo is well-suited to support its strategy in the area. The Serbian firm also focuses on fast-moving consumer goods (FMCG) customers.
DS Smith’s strategy aims for growth and margin opportunities via its sustainable performance packaging client proposition.
Bosis doo founder and owner Bogoljub Pantelić said: “We are sure that this is the right decision for our family and Bosis doo, our employees and their families, as well as our long-term business partners and local community, and that we are also leaving them in the safe hands of DS Smith, a leading sustainable packaging provider.
“Our shared philosophy and values will ensure the future and sustainable growth of Bosis doo.”
Upon completion of the Bosis doo’s transaction, DS Smith’s entire packaging operations in Eastern Europe will consist of 29 box plants and other facilities, employing more than 7,000 people in the area.
The family-owned company was established in 1982 and is located approximately 100 kilometres south of Belgrade, Serbia. It has 140 workers who work at a single location in Valjevo.
DS Smith group chief executive Miles Roberts said: “We are seeing significant growth in demand for sustainable packaging and for plastic replacement in East Europe, especially in Serbia, and are delighted to announce our agreement to acquire Bosis doo. We look forward to warmly welcoming our new colleagues.
“This acquisition will develop our ability to support customers, enhancing our capabilities in the region and accelerating growth by offering world-class, sustainable and innovative products to many more customers.”
Subject to usual closing conditions, the transaction will be completed as a share transaction and is anticipated to close during the second part of DS Smith’s fiscal year.
Last month, the British packaging firm unveiled its plans to invest €33.9m in the next two years across our three packaging sites in Greece.