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DS Smith supported by White Space work

We assessed a potential acquisition in order to enter a new market and made a recommendation about whether to invest

Key questions answered included:

  • Is the new market attractive?
    • Is it large and growing?
    • Is it profitable?
  • Are there synergies between new and existing markets?
    • Are there benefits for customers or propositions?
    • Are there operational benefits?
  • Is the current target the right acquisition?
    • Is it in the right markets?
    • Is it profitable?
    • How loyal are customers?



  • DS Smith followed our recommendation not to invest
  • Capital retained for more critical acquisitions, better aligned with strategy


  • Service: Investment Decision Support
  • Sector: Manufacturing

“White Space conducted confidential interviews with relevant people and analysed large quantities of internal and public data. The work was high quality, and enabled a quick decision thanks to their clear, evidence-based recommendations”

Alex Manisty, Group Head of Strategy, DS Smith

“The team and I really enjoyed this one – DS Smith were able to take a step back and agree that whilst the acquisition target was probably the most attractive in market, they themselves shouldn’t be playing in the space at all – which will save them a lot of pain further down the line”

Nick Edwards, MD, White Space Strategy