Packaging producer Smurfit Kappa Group (SKG) has announced that it has acquired Netherlands-based paper and recycling business Reparenco for €460 million (£406 million).
The acquisition represents a transaction multiple, pre-synergies, of 6.4 times Reparenco’s 2018 expected annual earnings of €72million.
SKG chief executive Saverio Mayer said: “We are very pleased to complete the acquisition of Reparenco and to welcome their 315 employees to Smurfit Kappa. There is a strong cultural fit . . .
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