Smurfit Kappa Group has announced it has completed the acquisition of Cartones del Pacifico, a leading paper-based packaging company in Peru.
According to the paper-based packaging manufacturer, 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 Grupo Quimpac has acquired Smurfit Kappa’s flexible packaging business in El Salvador, it added.
Commenting on the acquisition, Tony Smurfit, CEO, Smurfit Kappa Group 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,” he said.
The acquisition of Cartones del Pacifico 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, the company said.
Juan G. Castaneda, CEO The Americas, Smurfit Kappa commented, “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,” he added.
Furthermore, Smurfit Kappa noted, its group’s enlarged global footprint will improve its packaging offering to multinationals operating throughout the Latin American region.