DS Smith has entered into an agreement to acquire Sebian packaging company Bosis doo.
The acquisition is described as ‘complementary’ to DS Smith’s existing packaging activity in Eastern Europe, and is designed to support its growth drive in the region.
With a focus on fast moving consumer goods (FMCG) customers, Bosis doo is said to be ‘particularly well suited’ to complement DS Smith’s strategy in the region.
The acquisition will be structured as a share transaction and is expected to complete within the second half of DS Smith’s financial year, subject to customary closing conditions.
Miles Roberts, group chief executive at DS Smith, said, “We are seeing significant growth in demand for sustainable packaging and for plastic replacement in East Europe, especially in Serbia, and are delighted to announce our agreement to acquire Bosis doo. We look forward to warmly welcoming our new colleagues.
“This acquisition will develop our ability to support customers, enhancing our capabilities in the region and accelerating growth by offering world-class, sustainable and innovative products to many more customers.”
Bogoljub Pantelić, founder and owner of Bosis doo, added, “Following 41 years of successful, responsible and sustainable business, during which Bosis doo grew from a small family-owned screen printing shop into one of the regionally recognised players in the production of offset cardboard packaging and blister packaging, the time came for a new phase in the development of Bosis doo. We are sure that this is the right decision for our family and Bosis doo, our employees and their families, as well as our long term business partners and local community, and that we are also leaving them in the safe hands of DS Smith, a leading sustainable packaging provider. Our shared philosophy and values will ensure the future and sustainable growth of Bosis doo.”
Following completion of the acquisition, DS Smith’s total packaging operations in Eastern Europe will comprise 29 box plants and additional facilities, employing more than 7,000 people in the region. Situated around 100km south of Belgrade, Bosis doo employs 140 employees working on a single site in Valjevo.
