Stora Enso completes the acquisition of De Jong Packaging Group

STORA ENSO OYJ INVESTOR NEWS 6 January 2023 at 18:45 EET

HELSINKI, Jan. 6, 2023 /PRNewswire/ -- Stora Enso has completed the acquisition of the Netherland-based company De Jong Packaging Group, one of the largest corrugated packaging producers in the Benelux countries. The acquisition announced in September 2022 with an enterprise value of approximately EUR 1,020 million was closed today following regulatory clearances and employee consultation.

The acquisition will significantly strengthen Stora Enso's presence in European packaging markets and provide an entry into the corrugated packaging market in the Netherlands, Belgium, Germany and the UK. With the acquisition, Stora Enso's Packaging Solutions division will increase its corrugated packaging capacity by approximately 1,200 million m² to more than 2,000 million m², including De Jong Packaging Group's ongoing expansion projects. De Jong Packaging Group's full year 2022 sales is estimated at approximately EUR 1 billion. Its product portfolio and geographic presence complement and enhance Stora Enso's offering, especially in fresh produce, e-commerce and industrial packaging.

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

Previous releases about the acquisition:

1 December 2022: Stora Enso received approval for the acquisition of De Jong Packaging Group
8 September 2022: Stora Enso acquires Dutch company De Jong Packaging Group to accelerate growth in renewable corrugated packaging

For further information, please contact:
Carl Norell
Press officer
tel. +46 72 241 0349

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
Tel. +46 70 210 7691

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV) (STERV) and Nasdaq Stockholm AB (STE A) (STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com

STORA ENSO OYJ

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