Stora Enso completes the acquisition of De Jong Packaging Group

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Stora Enso completed the acquisition of Dutch packaging solutions company De Jong Packaging Group. The transaction, announced last September, was completed on 6 January 2023. According to Stora Enso, the enterprise value amounts to EUR 1.02 billion.

De Jong Packaging Group consists of the packaging division, De Jong Verpakking Holding (DJV), and the paper division, De Jong Papier Holding.
The group has a total of 16 sites in the Netherlands, Belgium, Germany and the UK. The majority of the sites are corrugated converting and packaging wholesale plants and include two corrugators, 16 processing machines and 46 tray formers. Including ongoing expansion projects expected to be completed by 2025, the group’s corrugated packaging capacity amounts to 1.2 billion sqm. The group’s paper division, De Jong Papier Holding, operates a 360,000 tonne per year recycled corrugated paper mill in De Hoop, the Netherlands.

According to Stora Enso, the acquisition of De Jong will double the corrugated packaging capacity of Stora Enso’s Packaging Solutions division to over 2 billion tonnes per year, while De Jong’s product portfolio and geographic presence will complement and enhance Stora Enso’s offering, particularly in the fresh produce, e-commerce and industrial packaging sectors.

 Stora Enso also expects the acquisition to generate synergies through sourcing, carton integration and business opportunities.

«I am pleased to officially welcome De Jong Packaging Group as part of Stora Enso. This acquisition furthers Stora Enso’s strategic direction, accelerating revenue growth and building market share in the renewable packaging sector in Europe» says Annica Bresky, president and CEO of Stora Enso.