The company says that the deal is part of its ambitions to grow its capabilities in the region, where strong economic growth is helping to drive fast development across most consumer categories, including cosmetics and personal care.
Soyuz is based in Moscow and currently employs around 300 people. Its main focus is producing corrugated packaging for a complete range of sectors.
Building on Smurfit’s Russian operations
Smurfit already has three manufacturing operations in St Petersburg, where it produces paper-based and Bag-in-Box products for a wide range of consumers sectors all over Europe.
The paper based products comprise a number of applications for secondary packaging for the cosmetics, personal care and fragrance market.
And whereas the Bag-in-Box concept is mainly focused on the food and beverage sector, there is a small but growing market for the concept within the cosmetics and personal care market.
Largest corrugated manufacture in Russia
The latest acquisition positions Smurfit Kappa as the largest corrugated manufacturer of corrugated board in Russia, a strong position given the strengthening economy in the region.
“Russia is an attractive growth market for us with exciting potential,” said Pim Wareman CEO of Smurfit Kappa North East Europe.
“We are pleased to expand our footprint in this market and in particular within the growing Moscow region.”