Smurfit Westrock to acquire CMPC Chile packaging assets for US$420M

CHILE – Smurfit Westrock has agreed to acquire Empresas CMPC’s containerboard and corrugated operations in Chile for US$420 million, a transaction due to complete in the first half of 2027 subject to regulatory approvals.

The purchase price equates to a post-synergy multiple of below six times adjusted EBITDA, according to the company. 

The assets are positioned near Chile’s main fishing and agricultural areas, giving the acquired operations proximity to customer segments that rely heavily on corrugated packaging for fresh produce, seafood and processed food exports.

Santiago Paper Mill Supplies Regional Operations

The deal includes a paper mill in Santiago with annual production of 250,000 tonnes. 

Smurfit Westrock said the mill will support its regional paper operations by supplying recycled paper to facilities in Argentina, Peru and Ecuador. 

Kraftliner from Brazil and North America will also be available for the acquired corrugated operations in Chile. 

The company plans to use its own liquid resources to finance the acquisition.

Leadership Cites Regional Growth Strategy

Alvaro Henao, chief executive of Smurfit Westrock Latam, said the company had identified Latin America as a region of growth and development through internal investment and acquisition in its previously announced Medium-Term Plan. 

He added that he was particularly pleased to reach the agreement to acquire assets in Chile with a team the company looked forward to welcoming into the organisation. 

He noted the deal firmly established Smurfit Westrock as the leading player in Chile and further strengthened its regional footprint.

CMPC Brings Decades of Expertise to Combined Group

Tony Smurfit, president and chief executive of Smurfit Westrock, said opportunities to acquire a truly unique business like this one were rare. 

He noted that CMPC had nurtured and grown the business over many decades and brought considerable expertise into the Smurfit Westrock organisation. 

The transaction extends Smurfit Westrock’s consolidation strategy across Latin America, where demand for containerboard and corrugated packaging tracks growth in agricultural exports, food processing and e-commerce fulfilment. 

Chile’s fishing and agricultural sectors generate significant packaging volumes, and controlling both paper supply and converting capacity positions the company to serve exporters requiring integrated, traceable packaging solutions across the region.

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