Ireland-based corrugated packaging firm Smurfit Kappa (SKG) has completed the €186m acquisition of two Brazilian paper-based packaging companies, Industria de Embalagens Santana (INPA) and Paema Embalagens (Paema).
Privately owned companies INPA and Paema are integrated packaging businesses, which perform operations at three recycled containerboard mills in Brazil and have a combined capacity of 210,000t.
SKG intends to strengthen the portfolio for INPA and Paema by supporting the businesses with its operating systems and design and innovation expertise.
The acquisitions mark SKG's entry into the Brazilian markets and are expected to help SKG in expanding its global footprint by enhancing its capacities to meet customer demands across the Americas.
Smurfit Kappa Group CEO Tony Smurfit said: "We are confident that their expertise and the high quality of their asset base will provide us with a strong entry point into the Brazilian market and, as the leading pan-regional operator in Latin America, further strengthen our service offering to our existing international customers."