Smurfit Kappa announces an agreement to purchase the company Litbag, in order to reinforce its position in Southern Europe
Litbag has specific expertise in multi-layer EVOH barrier films which offer the advantage of extended product shelf life. Today it is one of the leaders in the Portuguese wine market exporting to several countries including Spain and France.
The acquisition of this dynamic company will enable Smurfit Kappa Bag-in-Box® to reinforce its position in Southern Europe and confirm its leadership in the wine sector.
“The Bag-in-Box® business continues to show significant potential for our Group. We are excited to develop our global footprint further and we see great opportunities for our Bag-in-Box® business on a world-wide scale in the years ahead,” said Roberto Villaquiran, CEO Smurfit Kappa Europe.
“Litbag is a dynamic company with a strong track record in innovation and market development. Product differentiators like their film performance and our VITOP tap technology will significantly strengthen our capabilities when they come together,” said Thierry Minaud, CEO of Smurfit Kappa Bag-in-Box®.
“We are excited to join forces with Litbag and strengthen our Iberian presence under the leadership of Pascual Martinez, General Manager for this region.”
About Smurfit Kappa
Smurfit Kappa is one of the leading providers of paper-based packaging solutions in the world, with around 45,000 employees in approximately 370 production sites across 34 countries and with revenue of €8.2 billion in 2016. Smurfit Kappa is located in 21 countries in Europe, and 13 in the Americas.