Paper-based packaging group Smurfit Kappa has acquired the Russian corrugated packaging company Soyuz, as it looks to reinforce its position in the region.
Soyuz, based in Moscow, produces corrugated packaging for a range of sectors and has approximately 300 employees.
Smurfit Kappa already has three plants in Saint Petersburg, Russia producing paper-based and Bag-in-Box products for customers across Europe.
According to the group, the acquisition enables Smurfit Kappa to further strengthen its position in Russia and broaden its offering to its multinational and local customers.
“I am delighted with the acquisition of Soyuz and welcome its employees into the Smurfit Kappa Group," said Pim Wareman, CEO of Smurfit Kappa North East Europe. “Russia is an attractive growth market for us with exciting potential. We are pleased to expand our footprint in this market and in particular within the growing Moscow region."