British packaging company DS Smith has completed the acquisition of Serbia-based packaging company Bosis doo.
This acquisition is set to bolster DS Smith's presence in Eastern Europe, particularly in the fast-moving consumer goods (FMCG) sector.
Founded in 1982, Bosis doo is a family-owned enterprise, located approximately 100km south of Belgrade.
The company's workforce of 140 employees operates from one site in Valjevo.
The addition of Bosis doo will complement DS Smith's regional strategy, focusing on sustainable performance packaging and seeking further growth opportunities in Eastern Europe.
The strategic acquisition by DS Smith is poised to drive accelerated growth, enhance capabilities, and deliver increased value to customers and stakeholders in the region.
DS Smith chief executive Miles Roberts said: “I’m delighted that we have successfully joined our companies. Together, we create a stronger business in the region, driven by the significant growth in demand for alternatives to problem plastic in Eastern Europe, particularly in Serbia.
“We look forward to elevating our regional capabilities, and further accelerating growth by offering high-performing products to an even broader customer base.”
The collaboration between DS Smith and Bosis doo is expected to harness their combined strengths and expertise to provide new packaging solutions.
Following the acquisition, DS Smith’s Eastern European network includes 30 box plants and additional facilities, with a workforce exceeding 7,000 individuals in the region.
DS Smith, which focuses on plastic replacement, have replaced more than 762 million units of plastic since March 2020.
The company pledged to work with customers to achieve their sustainability goals and plans to intensify these efforts in the Eastern European market.
Last week, US-based International Paper made an all-equity proposal for the acquisition of the entire issued share capital of DS Smith, setting up a possible bidding war.
Earlier last month, Mondi announced an agreement in principle for a potential all-share offer to acquire DS Smith for £5.14bn.
