Smurfit Kappa Group plc (‘SKG’ or the ‘Group’) is pleased to announce that it has now completed the acquisition of Verzuolo for a purchase price of €360 million.
Customary closing conditions have now been satisfied. The PM9 machine in Verzuolo was converted into a state-of-the-art 600,000 tonne recycled containerboard machine in 2019. It is highly complementary with SKG’s existing operations, strategically located close to the port of Savona and is expected to deliver significant benefits for both the Group and its customer base.
Smurfit Kappa Group CEO, Tony Smurfit, commented: ‘We are pleased to complete this acquisition ahead of schedule. Verzuolo brings a highly experienced and skilled team providing additional security of supply for SKG’s customers. As we continue to invest in our corrugated facilities, Verzuolo strengthens the Group’s integrated model and supports our sustainability ambitions.’
Source: Smurfit Kappa