9th Mar 2015 14:06
LONDON (Alliance News) - Irish packaging company Smurfit Kappa Group PLC on Monday said it has struck a deal to acquire Grupo CYBSA for an undisclosed amount.
Smurfit said Grupo CYBSA is a corrugated, foldoing cartons and flexible packaging manufacturer with operations in El Salvador and Costa Rica.
"We are very pleased to announce our agreement to acquire CYBSA and look forward to welcoming the excellent team from CYBSA into the Smurfit Kappa Group," said Smurfit Chief Executive Officer Gary McCann.
"The transaction reflects our continued commitment to increase our market presence in the Americas and will further enhance Smurfit's capacity to provide innovative, insight-led, differentiated and value enhancing packaging solutions to both current and prospective customers throughout the Americas," McCann added.
Shares in Smurfit were down 0.9% to EUR25.73 on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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