Smurfit Kappa has signed an agreement to acquire PaperBox, a packaging plant located in Saquarema, 70 kms east of Rio de Janeiro, Brazil. The transaction, which is subject to the approval of regulatory bodies, is expected to close at the end of October.
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.
Smurfit Kappa is one of the world's leading suppliers of paper-based packaging.