Smurfit Kappa has acquired Soyuz, which produces corrugated packaging for a range of sectors and has approximately 300 employees.
Smurfit Kappa already has three plants in Saint Petersburg, Russia producing paper-based and Bag-in-Box® products for customers across Europe.
This acquisition enables Smurfit Kappa to further strengthen its position in Russia and broaden its offering to its multinational and local customers.
The acquisition also establishes Smurfit Kappa as the leading international corrugated packaging supplier in Russia.
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 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.”