DS Smith Plc to Acquire North American Corrugated Packaging Business
DS Smith Plc today announced an agreement to acquire Corrugated Container Corporation (CCC), a high-quality corrugated packaging company in North America.
The acquisition follows DS Smith’s recent purchase of Interstate Resources, building on the company’s paper and packaging capacity in the region.
CCC is a family owned business employing approximately 190 people across its four operations in Tennessee, North Carolina and two sites in Virginia. The acquisition of these packaging sites will significantly boost DS Smith’s box-making capacity, and complements its existing footprint in North America.
CCC’s capabilities include a strong focus on high-quality, sustainable retail ready and display packaging, an area where DS Smith is achieving strong growth in Europe.
The acquisition is expected to be earnings enhancing immediately and is consistent with the Group’s medium term financial targets.