Liqui-Box Inc. has officially acquired DS Smith plc's Plastics division and will rebrand the company, complete with a new name.
DS Smith's plastics packaging division and extruded products will now go by Corplex.
The acquisition by Liqui-Box was announced in 2019 but the deal was finalized in February. The U.S. Department of Justice and Olympus Partners, the private equity firm that owns Liqui-Box, agreed to divest certain bag-in-box products made by DS Smith in the U.S. and Europe in order for the acquisition to be completed.
The rigid and flexible packaging businesses under DS Smith now have been split into three segments: Corplex; DW Reusables, formerly injection molded products; and Engineered Foam Products, formerly foam products.
The newly named Corplex will manufacture extruded plastic products for various markets including automotive, pharmaceutical, retail, reusable packaging, graphics and more, according to a March 2 news release.
Corplex will operate out of seven facilities in the U.S., the United Kingdom, France, Spain and Slovakia.