HOT TOPICS

DS Smith sells Spicers to Unipapel for £200m

January 3, 2012 Comments Off Print Print

DS Smith has completed the previously announced disposal of its office products business – Spicers to Unipapel for £200m, in a bid to focus on its core packaging business

Sign up to PN email bulletins
Get the latest news
direct to your inbox
with PN's daily,
weekly and monthly
email bulletins.

Click here to sign
up to Packaging
News Bulletins

Photo of Miles Roberts1 Unipapel is based in Spain and produces office paper products. Its product portfolio includes paper bags, envelopes and stationary products, greeting cards and notebooks.

In a statement, DS Smith said that the enterprise value for Spicers is £200m, and net proceeds, after tax and related costs, are circa £160m. It added: “Following the disposal, the Group is focused on its recycled packaging businesses.”

Speaking last month to PN about possible future acquisitions, DS Smith chief executive Miles Roberts said that there were “a number of opportunities that we expect to come out of the continent [Europe] in the next 12 to 18 months. Any acquisition has to be in packaging, but if there is paper too then that’s OK”.

If you enjoyed this story, you may also like this interview with DS Smith’s Miles Roberts:

DS Smith’s Roberts: ‘Rome wasn’t built in a day, and we’re building Rome’

abc1

Related Posts

Comments are closed.