Acquisition of Zewathener DS Smith Plc (LSE:SMDS), the international packaging and office products supplier, has agreed to acquire 100% of the shares of Zewathener GmbH. 51% of the shares will be acquired from SCA Packaging and the remaining 49% of the shares will be acquired from the current management, represented by Paku-Pack Papier - und Kunststoff Verpackungen GmbH.Zewathener, located in Schwetzingen, Germany, is one of Europe’s leading manufacturers of bag-in-box packaging, which is used extensively for a variety of catering applications and for wine retailing. The Company had net assets of €2.9 million at 31 December 2001. Its turnover in 2001 was €21.7 million and it employs approximately 80 people. This acquisition supports DS Smith’s strategy to develop its global liquid packaging and dispensing business. The Zewathener business complements DS Smith’s existing bag-in-box business which operates under the Rapak brand and it will strengthen the Group’s position in continental Europe. Rapak is one of the world’s leading suppliers of bag-in-box packaging.
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