4th Jun 2021 10:41
(Alliance News) - Smurfit Kappa Group PLC on Friday said it has completed the acquisition of paper-based packaging company Cartones del Pacifico SAC for an undisclosed sum.
The acquisition Paramonga, Peru-based Cartones del Pacifico is expected to allow the Dublin-based packaging firm to expand its footprint in the Americas region to 13 countries, as well as solidify its position as the largest pan-regional supplier in Latin America.
As part of the deal, Lima, Peru-based printing firm Emusa Group has acquired Smurfit's flexible packaging business in El Salvador.
"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," said Chief Executive Officer Tony Smurfit.
Shares in Smurfit Kappa were down 1.0% at 3,733.00 pence on Friday in London.
By Dayo Laniyan; [email protected]
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