Jul 04, 2012. /Lesprom Network/. DS Smith Plc announced that completion of the Acquisition of the packaging division of SCA excluding the kraftliner assets (“SCA Packaging”). The consideration paid on Completion was Euro 1,582 million net of cash and external debt, Euro 1,606 million gross. This is subject to customary post Completion price adjustments. SCA Packaging is the second largest packaging business in Europe and the Acquisition represents a significant opportunity for DS Smith to achieve its stated strategic aim of becoming the leading supplier of recycled packaging for consumer goods in Europe. Commenting on the completion of the Acquisition, Miles Roberts, Group Chief Executive, said “We are delighted to have completed this acquisition, which is a key step in our strategic plan to become the leading supplier of recycled packaging across Europe.” “The SCA Packaging business is very complementary to DS Smith’s strengths and creates a significantly enlarged geographic footprint. Together, we are now better positioned to meet the needs of our pan-European customers, deliver higher standards of customer service and drive forward product innovation. We are very excited about the opportunity to create an outstanding supplier for our customers and to make DS Smith a fulfilling place for our staff to work.” “We can now start to integrate, develop and grow these two excellent businesses as we look to deliver substantial value for our customers, shareholders and employees.” A presentation is planned for 11 October 2012 at which DS Smith’s executive management will update investors and analysts on the progress made in respect of the acquisition.