Acquisitions

Smurfit Kappa acquires Parenco

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The Irish paper and packaging group Smurfit Kappa www.smurfitkappa.com has announced an agreement for the acquisition of the Dutch recycling and paper company Reparenco www.parenco.com. The acquisition, which has a value of 460 million euros, will accelerate the strategic objective of the group and strengthen its integration into the European paper sector.

Reparenco manages a paper mill in Renkum with a production capacity of 405 thousand tons of recycled cardboard and 270 thousand tons of Super Calendered Papers (SC), SC paper and improved newsprint on two machines; in addition it recovers 750 thousand tons of fibre.

For its part, Smurfit Kappa has drawn attention from its United States rival, International Paper (IP). As a reminder, the board of directors of the Irish group had rejected IP’s hostile bid proposal on two occasions in March.