Stora Enso Packaging Solutions division enters corrugated packaging markets in the Netherlands, Belgium, Germany and the UK.
Stora Enso has completed the acquisition of Dutch packaging solutions company De Jong Packaging Group. The transaction was announced last September and was completed on 6 January 2023. The enterprise value amounts to €1.02bn, according to Stora Enso.
De Jong Packaging Group consists of the packaging business arm De Jong Verpakking Holding (DJV) and the paper business De Jong Papier Holding. The group has "16 sites in total in the Netherlands, Belgium, Germany, and the UK. Most of the sites are corrugated converting and packaging wholesale facilities and they include two corrugators, 16 processing machines and 46 tray erectors," Stora Enso explains. Including ongoing expansion projects which are expected to be competed by 2025, the group's corrugated packaging capacity amounts to 1.2 bilion m². The group's paper arm De Jong Papier Holding operates a 360,000 tpy recycled corrugated case material mill in De Hoop, Netherlands.
According to Stora Enso, the acquistion of De Jong will more than double the corrugated packaging production capacity of Stora Enso Packaging Solutions division to more than 2 billion tpy while De Jong's product portfolio and geographic presence will complement and enhance Stora Enso’s offering, especially in fresh produce, e-commerce and industrial packaging. Stora Enso also expects the acquisition to generate synergies through sourcing, containerboard integration and commercial opportunities.
