Stora Enso completes purchase of De Jong Packaging Group

Stora Enso, a Finland-based paper and board producer, has completed its acquisition of Netherlands-based corrugated packaging producer De Jong Packaging in a deal valued at 1.02 billion euros ($1.04 billion). The acquisition first was announced in September of last year in a move Stora Enso said will “advance its strategic direction, accelerate revenue growth and build market share in renewable packaging in Europe.”

De Jong Packaging Group is one of the largest corrugated packaging producers in the Benelux countries, and Stora Enso says the acquisition provides an entry into the corrugated packaging market in the Netherlands, Belgium, Germany and the United Kingdom.

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According to a statement from Stora Enso, De Jong’s full-year 2022 sales are estimated at approximately 1 billion euros.

“I am pleased to officially welcome De Jong Packaging Group as part of Stora Enso,” Stora Enso President and CEO Annica Bresky says. “This acquisition advances Stora Enso’s strategic direction by accelerating revenue growth and building market share in renewable packaging in Europe.”