UK-based corrugated packaging giant DS Smith intends to take over the Milas packaging business of DasaMilas Ambalaj in Turkey.
Financial details of the deal have not been disclosed.
An integrated entity formed by two paper packaging companies, DasaMilas Ambalaj has 240 employees at its production facility near Istanbul.
Milas offers corrugated packaging solutions for the international FMCG market and generates around $25m in annual sales.
DS Smith CEO Miles Roberts said: "This acquisition gives DS Smith direct exposure to the attractive Turkish market through a well-invested business focused on FMCG customers and is a further step in complementing our South Eastern European footprint and capabilities for pan-European customers."
The acquisition is subject to customary closing conditions and competition clearance following which, it is expected to be completed by the end of 2015-2016 financial year.
DS Smith packaging will also be deploying HP PageWide Web Press T1100S to boost its printing applications.
The HP equipment has been designed to support corrugated packaging printing for high-volume, digital pre-print applications and is expected to offer higher productivity benefits and production flexibility when compared with traditional analog technology.
German press manufacturer KBA has been the co-developer for the 2.8m width press, HP said.
DS Smith packaging CEO Stefano Rossi said: "We selected the new HP PageWide Web Press T1100S as the next step in our groundbreaking digital PrePrint programme.
"Our co-development with HP has resulted in the first digital machine able to print at the speed and width we need for high-volume corrugated production. It will provide our customers with unprecedented short-run flexibility and quality consistency."