Smurfit Westrock Acquires CMPC’s Chilean Containerboard & Corrugated Business

Smurfit Westrock signed an agreement to acquire the Chilean Containerboard and Corrugated business of Empresas CMPC S.A. (CMPC).

Smurfit Westrock believes the business is highly complementary to its existing operations and provides a platform from which to continue growing alongside our customers in Latin America.

These assets are strategically located close to the country’s key fishery and agricultural regions, complementing our existing corrugated business and represent, for Smurfit Westrock, the opportunity to acquire one of the leading positions in containerboard and corrugated in Chile. 

The well-invested paper machine, located in Santiago, produces approximately 250,000 tons per year and will strengthen Smurfit Westrock’s regional paper system. It will allow the comapny to integrate recycled paper into our operations in Argentina, Peru, and Ecuador, while enabling to route kraftliner from Brazil and North America into the acquired corrugated assets in Chile.

Tony Smurfit, President and CEO, said: “Opportunities to acquire a truly unique business like this one are rare. CMPC has nurtured and grown this business over many decades and brings tremendous expertise into the Smurfit Westrock organization. With both the extensive industry knowledge and geographic footprint that Smurfit Westrock brings to our new colleagues, I am very excited about future opportunities for growth and development across the region. I am equally pleased to expand our presence in the Chilean market which, over decades, has shown strong growth and resilience.”

Alvaro Henao, CEO of Smurfit Westrock Latam, added: “In our previously announced Medium-Term Plan, we identified Latam as a region of growth and development both through internal investment and acquisition. I am particularly happy to reach this agreement to acquire world- class assets in Chile with a formidable team that we look forward to welcoming into the Smurfit Westrock organization. This firmly establishes Smurfit Westrock as the leading player in Chile and further strengthens our regional footprint.”

The deal is for consideration of $420 million, which represents a post-synergy transaction multiple of less than 6 times Adjusted EBITDA.

The company intends to fund the transaction using its own liquid resources. Completion is expected during the first half of 2027, subject to customary closing conditions, including regulatory approvals.