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19 Sep 2022 07:00
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Smurfit Kappa acquires packaging plant in Rio de Janeiro
The purchase of PaperBox expands both the company’s presence in Brazil and its product portfolio
Smurfit Kappa, one of the world’s leading suppliers of paper-based packaging, announced it has signed an agreement to acquire PaperBox, a packaging plant located in Saquarema, 70 kms east of Rio de Janeiro. The transaction, which is subject to the approval of regulatory bodies, is expected to close at the end of October.
Brazil is the largest corrugated cardboard market in Latin America, with 7.4 bn sq m produced annually, and the Southeast region, where PaperBox is located, equates to 46% of this volume. This acquisition represents a further expansion of Smurfit Kappa’s operational footprint in Brazil as it currently operates in three other states: Minas Gerais, Rio Grande do Sul and Ceará.
“We are very proud to expand our footprint in Brazil to meet the growing demand for innovative and sustainable packaging. This acquisition will broaden and strengthen our presence in the country, improve our production capabilities and enable us to continue to create new opportunities and form new partnerships with customers,” said Laurent Sellier, CEO of Smurfit Kappa in the Americas.
Manuel Alcalá, CEO of Smurfit Kappa in Brazil, added: “Smurfit Kappa believes in Brazil and in the opportunities to deliver growth by continuing to add value to our customers business. PaperBox has a distinguished history in the region and a special commitment to all stakeholders. This is a legacy that Smurfit Kappa will build upon.”
-ENDS-
Media contact:Sinead GillSmurfit KappaT: +353 87 117 3389E: sinead.gill@smurfitkappa.com
About Smurfit Kappa
Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with approximately 48,000 employees in over 350 production sites across 36 countries and with revenue of €10.1 billion in 2021. We are located in 23 countries in Europe, and 13 in the Americas. We are the only large-scale pan-regional player in Latin America. Our products, which are renewable, recyclable and biodegradable, are produced sustainably and improve the environmental footprint of our customers.
With our proactive team, we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-based packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.
We have a proud tradition of supporting social, environmental and community initiatives in the countries where we operate. Through these projects we support the UN Sustainable Development Goals, focusing on where we believe we have the greatest impact.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220918005070/en/
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