Stora Enso to Acquire Dutch De Jong Packaging Group

SEATTLE (Scrap Monster): Stora Enso Oyj announced acquisition of the Netherlands-based De Jong Packaging Group for an enterprise value of approximately EUR 1,020 million. The acquisition will significantly strengthen Stora Enso’s European market presence in corrugated packaging and provide an entry into the Netherlands, Belgium, Germany and the UK. 

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The acquisition will help Stora Enso to increase its corrugated packaging capacity by approximately 1,200 million m2 to more than 2,000 million m2, thus helping it to secure a platform for continued growth in key markets, especially in fragmented European corrugated packaging market. De Jong’s diverse product portfolio and widespread geographic presence will complement and enhance Stora Enso’s offerings.

Annica Bresky, President and CEO, Stora Enso commented that acquisition of De Jong Packaging with a solid presence in the corrugated packaging sector and an impressive customer base will support Stora Enso’s future strategic direction to advance renewable packaging solutions within Europe.

The closure of the transaction is expected in early-2023, subject to employee consultation and necessary regulatory approvals. The deal is unlikely to have any impact on Stora Enso’s full year operational EBIT guidance for 2022.