De Jong Verpakking B.V. completed the acquisition of De Hoop paper mill from DS Smith Plc.

De Jong Verpakking B.V. agreed to acquire De Hoop paper mill from DS Smith Plc (LSE:SMDS) for ?50 million on July 16, 2021. As part of the agreement, DS Smith will continue to purchase from and supply to the paper mill a certain amount of containerboard and fibre in support of a smooth and orderly transition. Completion of the sale is subject to customary closing conditions including works council consultation. The transaction is expected to take place in the second quarter of our FY 2021/22. The proceeds will be used to partly offset this year's enhanced investment in packaging capacity, with new greenfield corrugated box plants in Italy and Poland, and a significant expansion of our Arnstadt packaging facility in Germany. Dan Roberts and Sophia Lazarus of Brunswick Group LLP acted as a financial advisor to DS Smith Plc. De Jong Verpakking B.V. completed the acquisition of De Hoop paper mill from DS Smith Plc (LSE:SMDS) on October 13, 2021.