The €300m ($339m) deal was closed on May 31, 2015.
The Austrian enterprise manufactures over 1,500 cardboard products for transport and packaging – from gift boxes to heavy-duty cardboard pallet containers.
“We are delighted to complete the acquisition of Duropack, a business that is highly complementary to DS Smith’s geographic footprint and transforms our position in higher-growth South Eastern European geographies,” said Miles Roberts, Group CEO, DS Smith.
“We look forward to integrating the business into the DS Smith Group and are excited about the excellent opportunities for customers, employees and shareholders.”
Key growth region
Duropack’s geographic footprint includes Austria, Hungary, Bosnia, Bulgaria, Macedonia, Serbia, Slovakia, Croatia and Slovenia.
At the time of the announcement, Nicholas Mockett, head of Packaging M&A (mergers and acquisition) at Moorgate Capital advisory firm in London told FoodProductionDaily with earlier acquisitions from SCA and Otor, the company is cementing its position in Central and Eastern Europe.
“This is a key growth region, as standards of living rise, countries join the EU, and retail models cater for evolving lifestyles.
“DS Smith will have an enviable position here, which is likely to appeal to a multinational customer base (eg multinational food and beverage companies) which is continuously looking for established and trusted manufacturers to supply in new territories.”
SCA and Otor
DS Smith completed its €1.6bn (£1.2bn) takeover of SCA Packaging in June 2012 including its entire packaging division – excluding two kraftliner mills in Sweden.
It’s acquisition of Otor was approved by the UK Office of Fair Trading (OFT) in August 2010.