Smurfit Kappa in £43.5m deal to take over Inspirepac
Irish packaging group Smurfit Kappa has agreed to pay £43.5m (€60m) for UK-based Inspirepac, extending its presence in the market.
Smufit Kappa is buying the non-integrated corrugated, high quality print and display business from the Logson Group.
Inspirepac has 279 employees and operates two packaging plants and two additional facilities in the north of England. It generated earnings before interest, tax, depreciation and amortisation (EBITDA) of £6m last year.
Smurfit Kappa said it expects to generate £1.2m in synergies in the first year of the acquisition.
The Dublin-listed firm said the deal is expected to close in the second quarter of this year.