DS Smith is to acquire the Linpac Containers Group for £170M. The deal, which requires the approval of DS Smith shareholders at an extraordinary general meeting to be held on March 22, will make it the UK’s leading supplier of corrugated packaging.
Tony Thorne, group chief executive of DS Smith, comments: “We believe that by combining Linpac Containers with our existing business we will be able to generate substantial synergies. This move is in line with our strategy to develop our strong European regional positions in paper and corrugated packaging, and is an excellent opportunity to enhance the group’s earnings and increase shareholder value.”
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