The U.K.-based paper, packaging and recycling firm DS Smith Plc has reached an agreement to acquire Gopaca, a corrugated producer located in Portugal.
DS Smith says the move will strengthen its operations in the Iberian Peninsula (Iberia includes Spain, Portugal and Andorra), which the company says is an important and growing market for its corrugated packaging. The company has a very small presence in Portugal, though a spokesman for DS Smith says it has a roughly 10% share of the Spanish market. In total, DS Smith has a presence in in 36 countries and employs around 26,000 people.
The deal is expected to be completed by the third quarter of 2016.
Miles Roberts, DS Smit CEO, says, “We are delighted to announce the acquisition of Gopaca and very much look forward to working with our new colleagues as we continue to enhance our geographic footprint and customer offering in Portugal.”
Gopaca operates one corrugated plant, which has an annual production capacity of 120,000 square metres per year. A spokesman for DS Smith says a significant portion of its finished product is produced with recycled paper.
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