The acquisition of Cartones enables Smurfit Kappa to expand its footprint in the Americas
Smurfit Kappa has completed the acquisition of Cartones del Pacifico. (Credit: Pete Linforth from Pixabay)
Paper-based packaging products provider Smurfit Kappa Group has completed the acquisition of Peruvian paper-based packaging company Cartones del Pacifico.
Under the deal, Emusa Group has purchased Smurfit Kappa’s flexible packaging business in El Salvador.
The acquisition of Cartones enables Smurfit Kappa to expand its footprint in the Americas from 12 to 13 countries, in addition to helping to make it the largest pan-regional supplier in Latin America.
Smurfit Kappa Americas CEO Juan Castaneda said: “We are very pleased to complete the acquisition of Cartones del Pacifico, and to welcome their 368 employees to the Smurfit Kappa family of 46,000 people.”
Cartones del Pacifico, which is located in Paramonga near Lima, offers corrugated packaging solutions to its customers.
Cartones will also help Smurfit Kappa Group to better serve customers in the agricultural and industrial sectors.
In addition, the group’s expanded global footprint will enhance its packaging offering to multinationals operating across the Latin American region.
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.”
In February this year, Smurfit Kappa announced an investment of $40m for the planned expansion and modernisation of its paper sacks business in the Latin American market.