The property of approximately 28,500 sqm is strategically located in a key industrial area of Győr. The building is well suited to DS Smith's business needs, offering opportunities for future growth and supporting the manufacture of packaging solutions for plastic recycling.
DS Smith Packaging Hungary has until now occupied part of the property as a tenant. The seller is OTP Real Estate Investment Fund Management.
"I am pleased to announce another investment by DS Smith in Eastern Europe, the acquisition of our Győr site in Hungary. This strategic investment will add a state-of-the-art facility to our existing plant, further strengthening our position in the region and providing our customers with the right platform for packaging solutions to replace plastic," said Reinier Schlatmann, managing director, DS Smith Eastern Europe Region.
"The sale of the Győr property is part of OTP Real Estate Investment Fund Management's long-term strategy. We have an excellent relationship with DS Smith, who is the largest tenant in the property, and we are pleased that as a result of our cooperation, they will own the property in the future," added Dóra Kenéz, CEO of OTP Real Estate Investment Fund Management.
This strategic acquisition strengthens DS Smith's presence in Hungary, where the company operates two traditional corrugated packaging plants in Füzesabony and Nagykáta, and four service centers in Tiszaújváros, Nagykata, Székesfehérvár and Sárvár.
The investment will ensure the long-term continuity of operations at DS Smith's Győr plant, optimize its cost structure, and provide a solid basis for further growth in Hungary, the company says.
The transaction is expected to close in the first half of 2024.
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