March 6, 2019 / 7:18 AM / 6 months ago

Packager DS Smith to sell plastics business to Olympus Partners

March 6 (Reuters) - Packaging company DS Smith Plc said on Wednesday it has reached an agreement to sell its plastics division to private equity firm Olympus Partners for $585 million.

DS Smith said in December it was exploring options for its plastics division including a potential sale. The business, contributing 6 percent of overall revenue, was hit by higher polymer prices and a lag in price recovery. (Reporting by Sangameswaran S in Bengaluru; Editing by Shounak Dasgupta)

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