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DS Smith strengthens Spain business with 190 mln euro deal

Reuters - UK Focus

June 25 (Reuters) - Recycled packaging maker DS Smith Plc (Other OTC: DITHF - news) reported a 20 percent jump in full-year pretax profit and said it had agreed to acquire Spanish company Grupo Lantero's corrugated products business.

The company said the deal would help significantly strengthen its operations in Spain, giving it an about 10 percent market share.

The total consideration is expected to be about 190 million euros ($213 million), including debt.

($1 = 0.8925 euros) (Reporting by Roshni Menon in Bengaluru; Editing by Anupama Dwivedi)