DS Smith recently announced that it has reached an agreement to acquire the corrugated business of Grupo Lantero, including several operations in which DS Smith currently has a minority holding.
The total consideration, including the assumption of debt, is expected to be about EUR 190 million, subject to closing adjustments. The deal is being financed from existing cash resources and is expected to deliver a return on invested capital above our cost of capital in the second year of ownership.
Miles Roberts, Chief Executive of DS Smith said, "We are delighted to announce the acquisition of the corrugated activities of Grupo Lantero. It is a high quality business that we have known and partnered with for a number of years and significantly increases our offering to Pan-European customers in this large and growing market."
The deal is subject to regulatory approval, which is expected during the third quarter of 2015.
