Smurfit Kappa expands with Mexican acquisition

Company has acquired Mexican packaging company Cartonbox for an undisclosed sum

Smurfit Kappa Group CEO Tony Smurfit.

Irish-headquartered international paper and packaging giant Smurfit Kappa Group has acquired Mexican packaging company Cartonbox for an undisclosed sum.

“As a global company, our objective has always been to strengthen our leadership across the globe. Our top priority is to generate value for our stakeholders, and Mexico has shown to be a key country for us to invest in,” said Juan G Castaneda, chief executive of Smurfit Kappa in the Americas.

Smurfit Kappa will now be able to directly supply customers in the northern region of Mexico and said the deal will allow it to expand its customer base in the FMCG, food and beverage, bakery and office supplies sectors.

Prior to this acquisition, Smurfit only had three folding carton operations in Mexico – located in Mexico City and Tijuana.

“Not only does this increase our footprint in the country, but it also allows us to answer our customers’ needs and expectations. I am certain this will help us move a step forward in becoming the leading paper-based packaging company in Mexico,” said Mr Castaneda.

Smurfit Kappa's latest move follows on from recent expansion investments in its mainland European operations as well as in the UK.

The group recently reported underlying revenue growth of 6% – to just under €2.3bn – for the first quarter of this year, with earnings of €386m.