Smurfit Kappa acquires operations in Mexico, strengthening its customer offering
July 7, 2021Smurfit 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 Cartonbox, a folding carton company located in Monterrey, in the north-east of Mexico.
The acquisition
represents an important milestone for the Company as it strengthens its
participation in the paper packaging solutions business in Mexico, expands its
footprint to four folding carton locations in the country, and reaffirms its
commitment to paper-based packaging as the core strategic business for the
Company.
Commenting on the acquisition, Smurfit Kappa The Americas CEO, Juan G.
Castaneda, said: “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. I am very proud to announce that we successfully acquired Cartonbox.
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.”
Jorge Alberto Angel, Smurfit Kappa Mexico CEO, said: “Smurfit Kappa Mexico
welcomes 240 employees from Cartonbox to our family, and I could not be more
pleased. Prior to the acquisition, we had three folding carton operations in
Mexico, located in the Metropolitan Area of Mexico City and in Tijuana. This
acquisition gives us the opportunity to directly supply our customers in the
northern region of the country. I am certain that using our best-in-class
operating systems, procurement arrangements, global mindset, and our design and
innovation focus, we are well positioned to partner with new and current
customers in the FMCG, food and beverage, bakery and office supplies sectors.”