Receive our newsletter – data, insights and analysis delivered to you
  1. News
June 7, 2021

Smurfit Kappa buys Peruvian paper packaging firm Cartones del Pacifico

With this acquisition, Smurfit Kappa has expanded its presence in the Americas to 13 countries.

Ireland-based corrugated packaging company Smurfit Kappa has acquired Peruvian paper-based packaging maker Cartones del Pacifico.

The acquisition will allow Smurfit Kappa to improve its business, primarily in the agricultural and industrial areas.

It also increases the company’s presence in the Americas from 12 to 13 countries, allowing it to improve its packaging offering to multinationals operating in Latin America.

The financial details of the transaction have not been disclosed.

Smurfit Kappa Group CEO Tony Smurfit said: “The acquisition of Cartones del Pacifico further expands our strategic reach and underscores our growing regional capability in Latin America.

“With a population of over 30 million, we are delighted to expand our footprint into Peru to help drive future growth.

Content from our partners
GMP: The food sector’s golden rules (and how they will evolve)
Food fraud in the supply chain (and how to fix it)
Cutting-edge innovation in fish packaging

“We welcome the Cartones del Pacifico employees to our team of talented people and look forward to their expertise contributing to the success of Smurfit Kappa Group.”

Under the terms of the deal, Smurfit Kappa has sold its El Salvador flexible packaging business to Emusa Group.

Located in Paramonga near Lima, Cartones del Pacifico manufactures paper-based and cardboard packaging.

Following the acquisition, the company’s 368 employees will work alongside Smurfit Kappa’s workforce of 46,000 people.

Smurfit Kappa Americas CEO Juan Castaneda said: “There is a strong cultural fit between our businesses and we are excited about the potential for Cartones del Pacifico within the Smurfit Kappa integrated system.”

Last month, Smurfit Kappa invested €20m ($24m) in four of its manufacturing plants across the Czech Republic and Slovakia to expand their converting capacity.

The company, which is focused on capital investment plans, posted an underlying revenue increase of 5% to €2.27bn in the first quarter of the year.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The packaging industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU