Smurfit Kappa acquires recycled containerboard mill in northern Italy

Smurfit Kappa Group plc, a large integrated manufacturer of paper-based packaging products with operations in Europe and the Americas, has acquired Verzuolo, a 600,000-metric-tons-per-year recycled containerboard mill in northern Italy that is owned by Burgo Group, for about 360 million euros (about $415 million).

According to a news release from Smurfit Kappa Group, a machine in the Verzuolo mill was converted to produce recycled containerboard in 2019. The company says this acquisition is complementary with its existing operations and is strategically located close to the port of Savona, Italy.

“We are pleased to complete this acquisition ahead of schedule,” says Tony Smurfit, Smurfit Kappa Group CEO. “Verzuolo brings a highly experienced and skilled team providing additional security of supply for [Smurfit Kappa's] customers. As we continue to invest in our corrugated facilities, Verzuolo strengthens the group’s integrated model and supports our sustainability ambitions.”