Demes logistics and pallet service was founded almost 30 years ago and became a member of DS Smith in 1999.
The business unit accounted for 10% of DS Smith’s plastics division and had become a non-core business within the group’s plastic packaging business, contributing only 10% of the group’s overall turnover.
Demes had gross assets of EUR11.2m as reported 31 October 2009.
The acquisition is currently under the review of the Office of Fair Trading (OFT).
“Part of this business is in the UK and the Office of Fair Trading is just checking that there are no conflicts of interest,” DS Smith’s group finance director Steve Dryden told Packaging News.
Cartonplast declined to comment while proceedings were underway.
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