Carey advises Smurfit Westrock on US$420 million acquisition of CMPC corrugated packaging business

Carey advised Smurfit Westrock on the acquisition of 100% of the shares of Envases Impresos Cordillera and Chilena de Moldeados, the companies comprising the corrugated packaging business of Empresas CMPC, for US$420 million.

The transaction was signed on September 23, 2026, and involves Chile.

The acquired business includes paper and molded pulp packaging production in Puente Alto, cardboard packaging manufacturing plants in Buin, Til Til and Osorno, and a nationwide paper recovery and recycling network comprising 12 collection points.

Carey’s advice included a comprehensive due diligence review of the target companies, the structuring, drafting and negotiation of the transaction documentation, including the share purchase and transitional services agreements, as well as regulatory and antitrust advice in connection with the transaction.

The Carey team included Pablo Iacobelli, Managing Partner; Patricia Silberman and Jaime Carey A., Partners; María José Henríquez, Senior Counsel; and Associates Pablo Fernández, Raimundo Gálvez, Javiera Chacón, Fernanda Gabor, Pedro Burstein, Trinidad Reyes, Raúl Vargas, Ariel Farcas and Andrés Klinger.

A/C/R Legal advised Empresas CMPC, with a team comprising Luis Felipe Arze, Partner, and Associates Josefina Recalde and Maika Belaustegui.

Smurfit Westrock’s in-house team included Niall Keane, María Camila Velasco, Nolan Stanton and Steven Lavender. JP Morgan acted as financial adviser.

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