Smurfit Kappa Benelux, a subsidiary of Smurfit Kappa has announced that it has agreed to acquire the European and Mexican operations of Hexacomb, a subsidiary of Packaging Corporation of America. Hexacomb is the largest European manufacturer of paper honeycomb and packaging solutions, and employs approximately 215 people across the operations in the Netherlands, France, Spain and Mexico.
Honeycomb packaging is a high value product within the protective packaging market and Hexacomb specialises in developing custom packaging solutions for optimal product protection and is an excellent addition to Smurfit Kappa's packaging solutions business. The European operations will report to the Smurfit Kappa Benelux organisation and the Mexican operations will report to Smurfit Kappa Orange County.
The acquisition is expected to complete in April 2015 and it is subject to customary closing conditions and regulatory approval.
About Smurfit Kappa
Smurfit Kappa is one of the leading providers of paper-based packaging solutions in the world, with around 42,000 employees in approximately 350 production sites across 32 countries and with revenue of €8.1 billion in 2014. We are located in 21 countries in Europe, and 11 in the Americas. We are the only large-scale pan-regional player in Latin America.
With our pro-active team we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills. Our products, which are 100% renewable and produced sustainably, improve the environmental footprint of our customers.