Smurfit Kappa has completed the acquisition of Cartones del Pacífico in Peru. This is an important milestone for the company, which is increasing its presence in the Americas from 12 to 13 countries and strengthening its position as the largest supraregional supplier in Latin America. It is an important purchase that opens up new business opportunities for its Spanish customers present in the Andean country, or who wish to invest in it, given its important geostrategic advantages in sectors such as agro-food, frozen foods and industry, among many others.
Spain is one of the most important investors in Peru and many Spanish companies have a long-standing relationship with the Latin American country, so this new acquisition will allow them to consolidate and optimize their value chain from end to end. Furthermore, according to Mincetur's Integrated Foreign Trade System (SIICEX), Spain stands seventh in the ranking of main Peruvian export destinations.
Félix Cimas, CFO Corporate & Corrugated Division of Smurfit Kappa Spain | Portugal | Morocco, said that "Peru is one of the most solid economies in Latin America. It is at the forefront in terms of growth and holds a key position in the Pacific Alliance, offering important opportunities for Spanish companies with interests in this region."
Tony Smurfit, CEO of Smurfit Kappa Group, said that "the acquisition of Cartones del Pacífico is further boosting our strategic reach as a Group and highlighting our regional growth capacity in Latin America. It is very important for us to expand in Peru, a country with more than 30 million inhabitants, and contribute to future growth. In addition, we are delighted to welcome the employees of this company to our talent pool. We are looking forward to their expertise contributing to the success of the Smurfit Kappa Group."
Juan G. Castañeda, CEO of Smurfit Kappa America, said: "We are very pleased to have completed the acquisition of Cartones del Pacífico and to welcome its 368 employees to the 46,000-strong Smurfit Kappa family. There is a strong cultural connection between the two companies and we are excited about the potential that Cartones del Pacífico has in the integrated Smurfit Kappa system."
The acquisition of Cartones del Pacífico, based in Paramonga, near Lima, will give the Smurfit Kappa Group the opportunity to strengthen its business through the Group's advanced operative systems, supply agreements and design and innovation capabilities to serve customers, particularly in fast-growing sectors, such as agriculture and the industry. In addition, the Group's increased global presence will improve its packaging range for Spanish multinationals operating across Latin America.
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