The British group DS Smith has announced the completion of its acquisition of the Romanian paper and cardboard factories EcoPack and EcoPaper, in a deal worth EUR 208 million.DS Smith bought the two factories from the Romanian investor Vladimir Cohn.

In his statement discussing the acquisition, Miles Roberts, the Group Chief Executive of DS Smith said, “We are looking forward to working with our new colleagues in the Papermill and Packaging site based in central Romania as we continue to strengthen our operations in this important growth market. We continue to grow strongly throughout the Eastern Europe and this acquisition will help us meet the increasing demand in the region.”
The group also announced its plans to retain the 400 employees at the two factories and with the increase in demand, increase its workforce. The Romanian business has witnessed massive growth over the years, and it occupies a strategic position in the local FMCG market.