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Packager DS Smith selling plastics unit to private equity firm Olympus

Olympus also owns protective packaging film maker Pregis.


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March 12, 2019 by Canadian Plastics

Packaging supplier DS Smith Plc has reached an agreement to sell its plastics division to private equity firm Olympus Partners for US$585 million.

Beginning in December 2018, DS Smith said it was exploring options for its plastics division – which has flexible plastics, rigid plastics, and foam products – including a potential sale.

The business, which contributes approximately six per cent of DS Smith’s overall revenue, was hit by higher polymer prices and a lag in price recovery.

Headquartered in London, DS Smith is a packaging supplier to Amazon. The company will retain its paper packaging operations, including Europac, a Spanish maker of corrugated packaging that DS Smith purchased in January.

Olympus Partners is based in Stamford, Conn. Its other holdings include protective packaging film maker Pregis.