Smurfit Kappa Completes Acquisition of Orange County Container
Dec. 3, 2012 - Smurfit Kappa Group plc (SKG) said that it has completed the acquisition of Orange County Container Group for a total cash consideration of US$340 million (about EUR 260 million) November 30, 2012.
SKG noted that the deal is subject to customary post completion price adjustments.
The $340 million cash consideration is being funded from the SKG's existing cash resources.
Orange County Container, which will form part of the SKG's Latin America segment, is a corrugated and containerboard manufacturer with operations predominantly in Northern Mexico and two packaging facilities in the southern United States.
"We are very pleased to announce the completion of the acquisition of Orange County Container Group," said Gary McGann, CEO of Smurfit Kappa Group. "This acquisition is fully consistent with our declared growth strategy, complements our existing Mexican business and increases our exposure to a demographically attractive and rapidly growing region.
"Our focus now is on the effective integration of our businesses in the region which gives us an exciting platform to continue to provide creative packaging solutions to both current and prospective customers,” McGann added.
SOURCE: Smurfit Kappa Group
See related story:
- Smurfit Kappa Agrees to Buy Orange County Container for $340 Million (9/24/2012)