SMURFIT KAPPA: Acquisition

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Smurfit Kappa acquires corrugated operation in Peru, expanding footprint in Latin America

Smurfit Kappa Group, one of the world's largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, is pleased to announce that it has completed the acquisition of Cartones del Pacifico, a leading paper-based packaging company in Peru.

The acquisition represents an important milestone for the Company as it expands its footprint in the Americas from 12 to 13 countries, and builds on the Group's leadership position as the largest pan-regional supplier in Latin America. As part of the transaction Emusa Group has acquired Smurfit Kappa's flexible packaging business in El Salvador.

Commenting on the acquisition, 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. We welcome the Cartones del Pacifico employees to our team of talented people, and look forward to their expertise contributing to the success of Smurfit Kappa Group."

Smurfit Kappa CEO The Americas, Juan G. 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. There is a strong cultural fit between our businesses and we are excited about the potential for Cartones del Pacifico within the Smurfit Kappa integrated system."

The acquisition of Cartones del Pacifico, a leading corrugated packaging business located in Paramonga, in the vicinity of Lima, will open opportunities for Smurfit Kappa Group to enhance the business through the Group's best-in-class operating systems, procurement arrangements, and design and innovation capability to attend customers, mainly in the fast growing agricultural and industrial sectors. Furthermore, the Group's enlarged global footprint will improve its packaging offering to multinationals operating throughout the Latin American region.

ENDS

Media contact:

Nicki Labram

Smurfit Kappa

T: [phone]

E: [e-mail]

About Smurfit Kappa

Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with approximately 46,000 employees in over 350 production sites across 36 countries and with revenue of EUR8.5 billion in 2020. We are located in 23 countries in Europe, and 13 in the Americas. We are the only large-scale pan-regional player in Latin America.

With our proactive team, we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-based packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.

Our products, which are 100% renewable and produced sustainably, improve the environmental footprint of our customers.

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June 04, 2021 02:00 ET (06:00 GMT)