SMURFIT Westrock has reached an agreement to acquire the Chilean containerboard and corrugated business of Empresas CMPC in a deal worth $420 million.
The group said it believes the business is ‘highly complementary’ to its existing operations and provides a platform to continue growing alongside customers in Latin America.
The assets are located close to the country’s key fishery and agricultural regions, complementing Smurfit Kappa’s existing corrugated business.
The paper machine, located in Santiago, produces approximately 250,000 tons per year. The move will allow Smurfit Kappa to integrate recycled paper into its operations in Argentina, Peru, and Ecuador, while also enabling the business to route kraftliner from Brazil and North America into the acquired corrugated assets in Chile.
Completion is expected during the first half of 2027, subject to customary closing conditions, including regulatory approvals.
Tony Smurfit, president and CEO of Smurfit Kappa, said, “Opportunities to acquire a truly unique business like this one are rare. CMPC has nurtured and grown this business over many decades and brings tremendous expertise into the Smurfit Westrock organisation.
“With both the extensive industry knowledge and geographic footprint that Smurfit Westrock brings to our new colleagues, I am very excited about future opportunities for growth and development across the region. I am equally pleased to expand our presence in the Chilean market which, over decades, has shown strong growth and resilience.”
