Smurfit Kappa expands in LatAm

Irish packaging group Smurfit Kappa has agreed to buy a US containerboard manufacturer for £210m, in a deal that will boost its fast-growing Latin American business. Smurfit agreed to buy Orange County Container Group using its existing cash resources, the company said in a statement. OCCG, which employs 2,800 people, mostly in Mexico, will deliver at least $14m of synergies by the second year of the merger, Smurfit said yesterday.