Smurfit Kappa agrees €460mn acquisition of Reparenco

By Johan De Mulder

Smurfit Kappa has moved a step closer to securing its independence after agreeing to acquire Dutch paper firm Reparenco for €460mn.

The Irish manufacturer, one of the largest of its kind in the world with 2017 revenues of over €8.5bn, has been the subject of takeover interest from its US rival International Paper, rejecting an offer in March.

Through the merger with paper and recycling specialists Reparenco, it is reaffirming its plan to forge its own path, creating synergies in the near-term in a number of areas, including increased integration of containerboard and the recycling operations into the Group.

See also:


Reparenco operates a two machine paper mill in the Netherlands with a capacity of 675,000 tonnes together with a 750,000 tonne recovered fibre operation, employing 315 people.

"We are pleased to announce our agreement to acquire Reparenco, successfully concluding a process which began on February 1st  this year," said CEO Tony Smurfit. "The acquisition of Reparenco is complementary with our existing business; strengthens our integrated business model; and accelerates a central element of our medium term plan.

"We welcome all the Reparenco employees to Smurfit Kappa. We believe there is a strong cultural fit between our businesses and that, together, we will generate value in the short, medium and long term for all our stakeholders."

According to Smurfit Kappa's statement, the deal is expected to complete within four to six weeks subject to customary conditions and adjustments and regulatory approval.

Share

Featured Articles

Age of the CISO – a new chapter for cyber security

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Exclusive: Making the UAE a global force in cybersecurity

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on plans to build the world’s most secure digital society for a safer society

UAE cyber leaders – back to basics to prepare for the future

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the future of cybersecurity

Top 10: Procurement & Supply Chain LIVE speaker highlights

Leadership & Strategy

10 apps to improve wellbeing on World Mental Health Day

Leadership & Strategy

Meet the COO: Brook Sims of MAC Diversity Recruiters

Leadership & Strategy