The UK branch of Irish packaging company Smurfit Kappa has acquired cardboard box company Atlas Packaging.
Based in Barnstaple, UK, Atlas Packaging is an independent corrugated packaging provider and claims to have a ‘strong’ domestic presence.
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The company serves businesses of all sizes in the UK, with its production capacity ranging from 500 units to tens of thousands.
It also offers a wide range of original products, primarily in the shelf-ready packaging, gift boxing and e-commerce sectors.
The financial terms of the transaction have not been disclosed.
Smurfit Kappa Corrugated UK and Ireland CEO Eddie Fellows said: “I am delighted with this acquisition and to welcome another strong professional management team into the Smurfit Kappa organisation.
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By GlobalData“The business has an established customer base across several industries and an excellent reputation.
“This acquisition will further strengthen our ability to service the UK market and our customers with innovative and sustainable packaging solutions.”
Smurfit Kappa has operations across the UK and is listed on both the London and Irish stock exchanges.
The company recently reported that its revenue increased by 33% in the first quarter of the fiscal year 2022 (FY22) compared with a year earlier.
It also reported that its paper and corrugated businesses each posted strong performances, while its corrugated box segment saw its revenue rise by 3.6% year-over-year.
Last month, Smurfit Kappa announced its decision to withdraw from the Russian market as Russia’s invasion of Ukraine continues.
The company said it would exit the country ‘in an orderly manner’ and continue to pay its employees and comply with legal obligations during the process.
It operated three plants in and around St Petersburg at the start of the invasion, employing around 800 people across Russia in total.
