Smurfit Kappa to buy Reparenco for $539 million
Smurfit said the acquisition of the privately-owned business accelerated its strategic objectives under a four-year plan laid out in February when it said it would increase investment in its existing businesses by 1.6 billion euros.
Negotiations to buy the business that generated 41 million euros of core earnings in the 12 months to April 2018 began on February 1.
“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,” Smurfit chief executive Tony Smurfit said in a statement. ■