SERBIA (News release) -- DS Smith, a leading sustainable packaging provider, announced it has entered into an agreement to acquire Bosis doo, a high-quality packaging company in Serbia.

With a focus on fast moving consumer goods (FMCG) customers, Bosis doo is particularly well suited to complement DS Smith's strategy in the region, which targets higher growth and margin opportunities through its sustainable performance packaging customer proposition.

The acquisition will be structured as a share transaction and is expected to complete within the second half of DS Smith's financial year, subject to customary closing conditions.

Plastic replacement is a key focus area for DS Smith, and the business recently achieved the milestone of over 762 million units of plastic replaced since March 2020. DS Smith continues to work closely with customers to help them address their sustainability goals and will seek to accelerate this progress in the East Region.

Following completion of the acquisition of Bosis doo, DS Smith's total packaging operations in Eastern Europe will comprise 29 box plants and additional facilities, employing more than 7,000 people in the region.

Situated c.100km south of Belgrade, Serbia, the family-owned business was founded in 1982 and employs 140 employees working on a single site in Valjevo.