DS Smith, a leading manufacturer of sustainable packaging, announced today that it has concluded an agreement to take over Bosis d.o.o. companies for the production of high-quality packaging in Serbia. This acquisition complements the existing regional packaging business activities in Eastern Europe and will support growth in the region, the statement said.
“Bosis is particularly suited to complement DS Smith’s strategy in the region, which is focused on higher growth rates and margins through its sustainable packaging offering to clients. The acquisition will be structured as an equity acquisition and is expected to be completed in the second half of DS Smith’s financial year, subject to customary closing conditions,”.
“We are noticing a significant growth in demand for sustainable packaging and plastic replacement in Eastern Europe, especially in Serbia, and we are pleased to announce our agreement to take over Bosis doo. The acquisition will further develop our capacity and ability to support clients, enhancing our capabilities in the region and accelerating growth by offering sustainable and innovative world-class products to many more clients,” said Miles Roberts, chief executive of the London-based group.
Following the completion of the takeover of Bosis d.o.o., DS Smith’s total packaging activities in Eastern Europe will consist of 29 factories and additional facilities, employing more than 7,000 people in the region. Located about 100 km south of Belgrade, the family business was founded in 1982 and employs 140 workers who work at one location in Valjevo.
Plastic replacement is a key area of ​​focus for DS Smith, with the business recently reaching the milestone of over 762 million units of plastic replaced as of March 2020.
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