Smurfit Kappa Signed Agreement to Acquire Paper Box Packaging Plant

The transaction is expected to close by end-October this year, subject to necessary regulatory approvals.

SEATTLE (Scrap Monster): Smurfit Kappa- Europe’s leading corrugated packaging company announced that it has signed an agreement to acquire assets of a packaging plant owned by Paper Box. The transaction is expected to close by end-October this year, subject to necessary regulatory approvals.

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Paper Box, with a distinguished history in the region, is located in the Southeast region of Brazil, which accounts for nearly 46% of the total corrugated cardboard production by Brazil. Incidentally, Brazil produces approximately 7.4 billion sq m of corrugated cardboards every year, thus making it the largest market in the entire Latin American region.

The plant is located close to Rio de Janeiro, Brazil. The acquisition will help the company to expand both its presence in Brazil and its product portfolio. It must be noted that Smurfit Kappa already has presence in three other Brazilian states- Minas Gerais, Rio Grande do Sul and Ceara.

Laurent Sellier, CEO of Smurfit Kappa in the Americas commented that the company is proud to expand its footprint in Brazil to meet the growing demand for innovative and sustainable packaging. The acquisition will not only broaden and strengthen its presence in Brazil, but also improve its production capabilities in a big way, he added.

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