Packaging group Smurfit Kappa has acquired Cartonbox, a folding carton company located in Monterrey, in the northeast of Mexico, for an undisclosed sum.

The transaction expands the Irish-listed company’s footprint in Mexico. It now has four four folding carton locations in the country.

“As a global company, our objective has always been to strengthen our leadership across the globe. Our top priority is to generate value for our stakeholders, and Mexico has shown to be a key country for us to invest in,” Smurfit Kappa The Americas chief executive Juan Castaneda said.

“ Not only does this increase our footprint in the country, but it also allows us to answer our customers’ needs and expectations. I am certain this will help us move a step forward in becoming the leading paper-based packaging company in Mexico,” he said.