DS Smith Plc completes the acquisition of 80% of the shares of common stock in the capital of Indevco Management Resources, Inc. from Merpas Co. S.à r.l.
DS Smith has paid $835 million (approximately GBP 642 million) in respect of cash consideration and repayment of IRI Group's financial indebtedness.
Miles Roberts, Group Chief Executive, commented: "We are delighted to complete the acquisition of Interstate. The response from employees and customers has been excellent and trading at Interstate in the calendar year to date is fully in line with our expectations at the time of the acquisition, which supports our confidence in this business. We look forward to working with all Interstate stakeholders and building a successful business in North America, as part of DS Smith's overall growth strategy."
DS Smith is a leading provider of corrugated packaging in Europe.
