Smurfit Kappa Group plc agrees to acquire Verzuolo, a containerboard business in Northern Italy, for a cash consideration of Euro 360 million.
The Verzuolo mill owned by the Burgo Group, is situated close to the port of Savona in the northwest of Italy. The PM9 machine was newly constructed in 2002 and converted into a 600,000 tonne capacity recycled containerboard machine in 2019.
The cash consideration will be funded from the Group’s existing resources. It is expected that the acquisition will complete during the fourth quarter, subject to customary closing conditions including regulatory approval.
Smurfit Kappa Group is one of the world's largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas.
