Smurfit Kappa expands European operations with strategic acquisition
Europe’s leading paper packaging company, Smurfit Kappa, is expanding its European operations with the acquisition of Russian corrugated packaging business, Soyuz.
The acquisition will strengthen Smurfit Kappa’s position in Russia, where it boasts three plants in St Petersburg producing paper-based and Bag-in-Box for European customers. Soyuz is based in Moscow and creates its products for a range of sectors, employing around 300 people. Purchasing Soyuz ensures Smurfit Kappa’s position as the leading international corrugated packaging supplier in Russia.
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Speaking about the latest acquisition, Pim Wareman CEO of Smurfit Kappa North East Europe, said: “I am delighted with the acquisition of Soyuz and welcome its employees into the Smurfit Kappa Group.
“Russia is an attractive growth market for us with exciting potential. We are pleased to expand our footprint in this market and in particular within the growing Moscow region.”
Saverio Mayer, CEO of Smurfit Kappa Europe added: “This acquisition supports our continued drive to increase our customer offering, and our unique packaging business applications will help further develop the Soyuz operations.
“Our wide range of corrugated products, along with our innovative and rapidly growing Bag-in-Box business, opens up many opportunities for both Smurfit Kappa and our customers in Russia.”
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