Olympus Partners portfolio company Liqui-box, recently announced that it has completed the acquisition of DS Smith Plc’s Plastics Division. The acquired division includes both rigid and flexible packaging businesses. The combined companies will have 35 manufacturing facilities and a global workforce of nearly 3,000 employees.
Post the acquisition, DS Smith’s flexible packaging and global dispenser businesses will be consolidated into the Liqui-box brand.
According to a company press release, the acquisition of DS Smith’s flexible packaging businesses provides a strong platform to further expand Liqui-box’s leading value proposition into emerging growth markets, such as coffee, tea, water, and aseptic packaging. In addition, through its Worldwide Dispensers brand of custom-engineered fitments, the company will now assume a leading position globally in dispensing technologies for both rigid and flexible packaging.
The acquired division’s rigid businesses for extruded products, injection-molded products, and foam products will be split into three newly branded and independently operated businesses, which will operate respectively as Corplex, DW Reusables, and Engineered Foam Products. Each of these business units stands ready to execute new growth plans under the new ownership structure.
“We’re excited to complete this transformational acquisition and welcome the DS Smith Plastics employees to our team,” said Ken Swanson, CEO of Liqui-box. “The new structure and brand identity of these businesses further support our strategy and commitment to lead the way with sustainable packaging solutions. Our best-in-class converting and molding equipment, coupled with further advancements in materials and design will be a big benefit to our customers. We’re excited to unlock additional value through an expanded range of film, bag and dispensing fitments, our best-in-class filler solutions, and an expanded global reach.”
Manu Bettegowda, Partner at Olympus Partners added: “Liqui-box is a core holding for Olympus Partners. The DS Smith Plastics acquisition is an important step in achieving our longer-term plan, and we plan to continue to invest in the business in support of its growth strategy.”
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