HELSINKI (News release) -- De Jong Packaging Group, one of the largest corrugated manufacturers in the Benelux, is now officially part of Stora Enso.

This acquisition will advance Stora Enso's strategic direction, accelerate revenue growth and build market share in renewable packaging in Europe.

The acquisition of De Jong Packaging Group will begin a new phase of renewable packaging solutions within Stora Enso. On top of Stora Enso's existing corrugated facilities, De Jong Packaging Group has 16 sites in total in the Netherlands, Belgium, Germany, and the UK. Most of the sites are corrugated converting and packaging wholesale facilities and they include two corrugators, 16 processing machines and 46 tray erectors. Together they produce 2,5 million boxes a day.

De Jong Packaging Group is also active in containerboard production - it acquired the De Hoop containerboard mill in the Netherlands in 2021. Packaging wholesalers offer a one-stop-shop solution in corrugated packaging as well as other related products and services. De Hoop mill produces mainly containerboard, but also plasterboard liner and honeycomb liner.

A new platform for growth in Europe

The acquisition of De Jong Packaging Group is expected to generate synergies through e.g. sourcing, containerboard integration and commercial opportunities. Together, the corrugated packaging capacity of De Jong Packaging Group and Stora Enso's Packaging Solutions will be more than 2,000 million m2, including De Jong's ongoing expansion projects which are expected to be finalised by 2025.

Moreover, De Jong Packaging Group is exposed to sizeable and profitable market segments with stable demand growth in the coming years. This acquisition will enable better service to Stora Enso's European customers, adding a very strong fresh-produce, industrial packaging and extended e-commerce product range to its portfolio.

About De Jong Packaging Group

Key numbers: Founded in 1996 1,300 employees 700 million packages manufactured per year for a sales area spread over 6 countries (Netherlands, Belgium, Germany, UK, Ireland and France)

Corrugated production capacity: 560 million sqm in 2022. Two ongoing expansions in the Netherlands (De Lier) and UK (Ellesmere Port). The two expansion projects, together with smaller optimisation projects at the German sites, will increase De Jong Packaging's corrugated capacity from 560 million sqm in 2022 to approximately 1,200 million sqm by Q4 2023/Q1 2024.

Containerboard and other recycled paper production volume 380 KT

Number of sites: 16

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 22,000 employees and our sales in 2021 were EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY).