Corrugated packaging company Smurfit Kappa Group has announced that it has completed the acquisition of Reparenco, a paper and recycling business in the Netherlands for €460 million.
The Dutch company’s 2018 expected full year EBITDA is reportedly €72 million.
“We are very pleased to complete the acquisition of Reparenco and to welcome their 315 employees to Smurfit Kappa," said Saverio Mayer, CEO, Smurfit Kappa, Europe.
There is a strong cultural fit between our businesses and we are excited about the potential for Reparenco within the Smurfit Kappa integrated system.”
He noted that Reparenco represents early delivery of a central element of its Medium Term Plan – to increase its European recycled containerboard capacity.
Integrated Business Model
Reparenco operates a two machine paper mill in the Netherlands with a capacity of 675,000 tonnes together with a 750,000 tonne recovered fibre operation.
Laurent Sellier, Smurfit Kappa COO, Paper Europe, added: “The acquisition of Reparenco will strengthen our integrated business model and adds 405,000 tonnes of recycled containerboard capacity to our system.”
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.