The acquisition of PaperBox expands both Smurfit Kappa’s presence in Brazil as well as its product portfolio.
September 21, 2022
Smurfit Kappa, one of the world’s leading suppliers of paper-based packaging, has signed an agreement to acquire PaperBox, a packaging plant located in Saquarema, 70 km 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.
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 percent of this volume. This acquisition represents a further expansion of the Company’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 Mr. Laurent Sellier, CEO of Smurfit Kappa in the Americas.
Mr. Manuel Alcalá, CEO of Smurfit Kappa in Brazil, added “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.”