The amount of the transaction, including the debt assumption, is around 190M€.The sale of this company is part of the Strategic Plan of the Group for the following years, which consists of boosting the growth of its flexible packaging Division (Emsur) and rigid plastic Division (Coexpan).
Lantero ensures that those 190M€ will help them to undertake the international expansion of these companies successfully (until now focused on Europe and Latin America), as well as growing organically and through acquisitionsin the five continents to be one of the biggest of the packaging sector. In Spain, this will let it boost its business through the diversification of the portfolio of products and invest to widen the capacity to produce in its plants.
This way, Enric Holzbacher, CEO at Grupo, has pointed out “we are very happy with this agreement. DS Smith has been our partner for many years and it has great experience in the mass market, therefore, we are sure it will keep having a good relationship with our clients. Our Group has decided to focus its activities strategically on its rigid and flexible plastic multinational divisions: Coexpan and Emsur, in which it is aspiring to national and international leadership, what will let us be more competitive and offer the best packaging solutions in the market to our clients”.
Miles Roberts, CEO at DS Smith, has said that “we are pleased to announce this purchase. It is a high quality business we know well and we have been partners for several years. That purchase increases significantly our offer to the pan-European clients of this growing market. This is an important step in our strategy to take advantage of synergies and strengthen our geographical presence. We are looking forward to working with people from Lantero Group and to contributing to the global growth of DS Smith.”