Paper-based packager Smurfit Kappa has acquired Russian corrugated packaging company, Soyuz, as it aims to expand its European operations.
Soyuz is based in Moscow and produces corrugated packaging for a range of sectors, employing 300 people.
The firm already has three plants in the country, based in Saint Petersburg, producing paper-based and bag-in-box products for customers across Europe. The company said the acquisition enables them to further strengthen its position in Russia and broaden its offering to its multinational and local customers.
Smurfit Kappa Europe chief executive officer Saverio Mayer said: “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.”
The financial terms of the deal have not been disclosed.
© FoodBev Media Ltd 2024