Paper and packaging firm Smurfit Kappa has acquired Russia-based corrugated packaging company, Soyuz, for an undisclosed sum.
Based in Moscow, Soyuz manufactures corrugated packaging products for a range of sectors. It has around 300 employees.
Currently, Smurfit Kappa operates three facilities in Saint Petersburg, Russia. They are used to produce paper-based and Bag-in-Box products for customers across Europe.
The acquisition will allow Smurfit Kappa to provide more product solutions for the multinational and local customers in the region.
In addition, the deal will help Smurfit Kappa to offer advanced corrugated packaging solutions to the customers in Russia.
Smurfit Kappa North East Europe CEO Pim Wareman said: “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.”
Smurfit Kappa Europe CEO 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.”
In November 2016, Smurfit Kappa UK acquired Saxon Packaging, which designs and produces corrugated products, cardboard packaging and boxes.
Saxon provides packaging solutions for beer, wine and spirits, as well as litho printed and flexo printed packaging solutions. It also manufactures boxes, cases and cartons.
