Stora Enso completes the purchase of De Jong Packaging Group
STORA ENSO OYJ INVESTORS’ NEWS January 6, 2023 at 18:45 CET
HELSINKI, January 6, 2023 /PRNewswire/ — Stora Enso has completed the purchase of the Dutch De Jong Packaging Group, one of the largest producers of corrugated packaging in the Benelux countries. The deal was announced in September 2022 with an enterprise value of approx 1.020 million euros closed today after regulatory approvals and employee consultation.
The acquisition significantly strengthens Stora Enso’s presence in the European packaging market and enables access to the corrugated board market Netherlands, Belgium, Germany and Great Britain. With the transaction, Stora Enso’s Packaging Solutions division will increase its corrugated packaging capacity by approximately 1,200 million mm.2 to more than 2000 million m2including De Jong Packaging Group’s ongoing expansion projects. De Jong Packaging Group’s sales for the entire year 2022 are estimated to be approx 1 billion euros. Its product range and geographic presence complement and improve Stora Enso’s offering, especially in fresh products, online shopping and industrial packaging.
“I am pleased to officially welcome De Jong Packaging Group as part of Stora Enso. This acquisition contributes to Stora Enso’s strategic direction by accelerating revenue growth and increasing market share in the field of renewable packaging. in Europe“, says Annica BreskyCEO of Stora Enso.
Previous announcements about the acquisition:
1 December 2022: Stora Enso received approval for the purchase of De Jong Packaging Group
September 8, 2022: Stora Enso acquires the Dutch De Jong Packaging Group to accelerate the growth of renewable corrugated packaging
For more information, please contact:
Carl Norell
Spokesman
tel. +46 72 241 0349
Investor inquiries:
Anna-Lena Åström
Head of Investor Relations
Tel. +46 70 210 7691
As part of the global bioeconomy, Stora Enso is a leading supplier of renewable packaging, biomaterials, wood construction and paper products and one of the world’s largest private forest owners. We believe that everything that is made from fossil materials today can be made from wood tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 were 10.2 billion euros. Stora Enso’s shares are listed on Nasdaq Helsinki Oy (STEAV) (STERV) and Nasdaq Stockholm AB (STE A) (STE R). In addition, shares are traded U.S. as ADR documents (SEOAY). storaenso.com
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