DS Smith Agrees to Acquire Milas Packing in Turkey

DS Smith Plc announced on Dec. 3 that it reached an agreement to acquire the Milas packaging business of DasaMilas Ambalaj. Terms of the deal were not disclosed.

Milas is a leading producer of specialist corrugated packaging and displays in Turkey. The business is focused on international FMCG customers, and is well positioned for the large Istanbul market as well as European export. According to DS Smith, Milas generates sales of approximately $25 million and has about 240 employees at its production facility located near Istanbul.

“We are pleased to welcome the Milas business into the DS Smith Group and look forward to working with its stakeholders,” said Miles Roberts, Chief Executive of DS Smith. “This acquisition gives DS Smith direct exposure to the attractive Turkish market through a well-invested business focused on FMCG customers and is a further step in complementing our South Eastern European footprint and capabilities for pan-European customers.”

Completion, which is subject to customary conditions including competition clearance, is expected by the end of our financial year 2015/16. DS Smith is part of a multinational group employing over 20,000 people with revenue exceeding GBP 4 billion. It is the largest integrated paper and packaging company in the UK and the second largest packaging company in Europe. To learn more, please visit: www.dssmith.com. 

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