DS Smith, a leading sustainable packaging provider, today announced it has entered into an agreement to acquire Bosis D.o.o., a high-quality packaging company in Serbia.
Miles, Roberts, group CEO, noted increasing demand for green packaging, with the acquisition expected to be completed within “the second half of DS Smith’s financial year.”
“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 D.o.o.,” Roberts said. “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.”
With a focus on fast moving consumer goods (FMCG) customers, Bosis D.o.o. is particularly well suited to complement DS Smith’s strategy in the region, which targets higher growth and margin opportunities through its sustainable performance packaging customer proposition.
“This new investment will support our medium and long-term strategy and growth ambitions across the DS Smith East Region,” said Reinier Schlatmann, DS Smith regional managing director for East Europe. “It will expand our footprint and portfolio with advanced technology and capabilities that allow us to support our customers better in achieving their ambitious environmental goals and offering new plastic replacement innovations.”
The acquisition will be structured as a share transaction and is expected to complete within the second half of DS Smith’s financial year, subject to customary closing conditions.
Plastic replacement is a key focus area for DS Smith, and the business recently achieved the milestone of over 762 million units of plastic replaced since March 2020. DS Smith continues to work closely with customers to help them address their sustainability goals and will seek to accelerate this progress in the East Region.
Following completion of the acquisition of Bosis doo, DS Smith’s total packaging operations in Eastern Europe will comprise 29 box plants and additional facilities, employing more than 7,000 people in the region. Situated c.100km south of Belgrade, Serbia, the family-owned business was founded in 1982 and employs 140 employees working on a single site in Valjevo.
Photo courtesy of the DS Smith website.