Acquisition of UK corrugated packaging operations from Anglo American International David S. Smith (Holdings) PLC has acquired (through its subsidiary David S Smith Packaging Limited) a number of corrugated packaging operations on a back to back basis from Anglo American International S.A. ( an associate of Mondi Packaging UK) following their purchase today of the UK paper and packaging operations of Danisco A/S. The operations acquired by David S Smith consist of two corrugated sheet feeder plants, based at Kettering and Hastings, and 11 corrugated sheet plants mainly located in the south and west of the UK. The businesses are being acquired for a total consideration of £20.9m paid in cash which, following some restructuring, represents an EBITDA multiple of less than five times.The acquired packaging plants will provide a good fit with the Group''s existing corrugated operations and will grow our market position in the UK. In particular the Kettering sheet feeder operation, which is a modern, well invested plant, will allow the Group to further develop its capabilities in certain products, such as lightweight decorative sheet. Integration of the acquired plants will allow cost savings and production efficiencies to be made. Enquiries: Tony Thorne, Chief Operating Officer David Buttfield, Finance Director Paul Froud, Group Communications Manager David S. Smith (Holding) Plc - 020 7932 5000
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