Stora Enso acquires De Jong Packaging Group, based in the Netherlands, for an enterprise value of approximately EUR 1,020m. This acquisition will advance Stora Enso’s strategic direction, accelerate revenue growth and build market share in renewable packaging in Europe.
De Jong Packaging Group is one of the largest corrugated packaging producers in the Benelux countries.
The acquisition of De Jong Packaging Group will significantly strengthen Stora Enso’s European market presence in corrugated packaging and provide an entry into the Netherlands, Belgium, Germany and the UK. With this acquisition, Stora Enso’s Packaging Solutions division will increase its corrugated packaging capacity by approximately 1,200 million m2 to more than 2,000 million m2, including De Jong Packaging Group’s ongoing expansion projects. This will secure a platform for continued growth in key markets. The European corrugated packaging market is fragmented, with local presence key for sustainable growth.
“In line with our strategy, we are investing in growing our market share in renewable and circular packaging solutions. De Jong Packaging has a solid presence in the corrugated packaging sector and an impressive customer base. Acquiring their operations supports our future strategic direction to advance renewable packaging solutions within Europe,” says Annica Bresky, President and CEO at Stora Enso.
“We are proud of what has been achieved at De Jong Packaging Group and we now look forward to the next steps in our company’s journey. Stora Enso is well positioned to drive further growth in line with our common ambition,” state Henk de Jong, owner of De Jong Packaging Group and Ad Smit, CEO of De Jong Packaging Group.