Smurfit Kappa Gorup has greed to acquire Central America based packaging supplier Grupo Cybsa.
Smurfit Kappa Group (SKG) is further strengthening its presence in the high-growth markets in Central and South America. The Irish group has agreed to acquire Grupo Cybsa, a non-integrated corrugated, folding cartons and flexible packaging manufacturer with five operations in El Salvador and Costa Rica.
Cybsa is a private company with approximately 1,000 employees, net assets at 31 December 2014 of approximately US$40m. The company reported an EBITDA of nearly US$13m for 2014.
According to a press statement, the acquisition is intended to provide the group with an "unrivalled packaging footprint across 12 countries from the southern United States to Argentina."