British group DS Smith has completed the acquisition of Romanian paper and cardboard factories EcoPack and EcoPaper, a deal worth EUR 208 million.
DS Smith bought the two factories from Romanian investor Vladimir Cohn.
“We are looking forward to working with our new colleagues in the Paper mill 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 Eastern Europe and this acquisition will help us meet the increasing demand in the region,” said Miles Roberts, Group Chief Executive DS Smith.
The group will retain the existing 400 employees at the two factories and could increase the workforce as demand grows.
The Romanian business has seen strong growth over many years and is well positioned in the local FMCG market.