DS Smith, one of the main suppliers of recycled corrugated cardboard in Europe, announces the purchase of the activities relating to corrugated cardboard of the Lantero Group. This purchase was settled with a sum equal to about 190 million euros (approximately 135 million sterling), after having obtained clearance from the competition authority.
Lantero Group is an Iberian manufacturer of corrugated cardboard with good investments, strongly focused on high-volume consumer products, with seven factories in various Spanish localities. This purchase significantly strengthens DS Smith’s activity in Spain, an important growing market for the corrugated cardboard packaging sector. Here the market share of the English manufacturer is about 10%. The transaction is in addition to the recent purchase of Andopack, which took place in the fourth quarter of 2014, and which generated an extremely positive reaction from customers in light of the offer of products and services from the English manufacturer. But that is not all. DS Smith has also announced the purchase of Cukurova Group, manufacturer of corrugated cardboard packaging in Greece with a turnover of about 80 million euros and a production distributed over three factories. In this case, also, he is a player who pays great attention to the FMCG (fast-moving consumer goods) sector and who enjoys excellent relationships with his customers. The transaction should meet medium-term financial targets within three years.