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 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.”
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