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DS Smith Completes Sale Of Plastics Unit To Olympus...

DS Smith Completes Sale Of Plastics Unit To Olympus Partners. (Alliance News) - Packaging group DS Smith PLC said Thursday it has completed the sale of its ... (Alliance News) - Packaging group DS Smith PLC said Thursday it has completed the sale of its Plastics division to private equity firm Olympus Partners and its affiliate Liqui-Box Holdings Inc. In mid-July, the UK regulator had said the initial phase of its investigation found that the acquisition would create "insufficient competition", given that Liqui-Box and DS Smith are two of only four companies offering specialist Bag-in-Box packaging to food and drink suppliers in the UK. However, in September the CMA cleared the acquisition, after Liqui-Box offered undertakings to the regulator, including the divestment of its Bag-in-Box business. "We are delighted to have completed the sale of our Plastics division. The transaction is attractive, both financially and strategically, for DS Smith as we reinforce our position as a leader in sustainable fibre-based packaging," said DS Smith Chief Executive Miles Roberts.

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