The acquisition announced in September 2022 with an enterprise value of approximately €1,020m, was closed recently, following regulatory clearances and employee consultation.
The acquisition will significantly strengthen Stora Enso’s presence in European packaging markets and provide an entry into the corrugated packaging market in the Netherlands, Belgium, Germany and the UK. With the acquisition, Stora Enso’s Packaging Solutions division will increase its corrugated packaging capacity by approximately 1,200m sqm to more than 2,000m sqm, including De Jong Packaging Group’s ongoing expansion projects. De Jong Packaging Group’s full year 2022 sales is estimated at approximately €1 bn. Its product portfolio and geographic presence complement and enhance Stora Enso’s offering, especially in fresh produce, e-commerce and industrial packaging.
“I am pleased to officially welcome De Jong Packaging Group as part of Stora Enso,” says Annica Bresky, President and CEO at Stora Enso. “This acquisition advances Stora Enso’s strategic direction by accelerating revenue growth and building market share in renewable packaging in Europe.”