05 August 2021


Smurfit Kappa Group plc has acquired Verzuolo, a containerboard business in Northern Italy, for a cash consideration of €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.

Verzuolo is highly complementary to SKG’s existing business and is strategically positioned to serve both the Southern European region and other markets ensuring we continue to provide the best service to our corrugated customers. The acquisition will deliver significant synergistic benefits including technical and production optimisation, and increased containerboard integration within the Group.

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 CEO, Tony Smurfit, commented: ‘We welcome the highly experienced Verzuolo team to the Smurfit Kappa Group as we continue to strengthen the world’s leading paper-based packaging group. Consistent with our multi-stakeholder approach, we believe that this acquisition represents another positive step for the Group, our customers and all shareholders. SKG has a proven ability to identify, acquire, integrate and optimise complementary businesses. This acquisitio