CMPC Agrees to Sell Corrugated Packaging Business to Smurfit Westrock for $420 Million
The transaction is subject to review and approval by Chile’s National Economic Prosecutor’s Office (FNE) and aligns with the company’s long-term strategy to sharpen its focus, boost competitiveness, and expand its global presence.
CMPC has entered into an agreement with multinational Smurfit Westrock to sell its Corrugated Packaging business in Chile—comprising Envases Impresos Cordillera and Chilena de Moldeados (Chimolsa)—as part of its long-term strategy to sharpen operational focus, enhance competitiveness, and drive global growth. The deal is valued at $420 million, representing an EBITDA multiple of approximately 7.6 times over the trailing twelve months.
The assets involved encompass paper manufacturing operations in Puente Alto, corrugated packaging solutions in Buin, Til Til, and Osorno, molded fiber packaging through Chimolsa, and a nationwide paper and cardboard recovery and recycling network featuring 12 collection centers. CMPC will maintain its presence in Puente Alto through its Softys manufacturing plant, which is excluded from the transaction.
“This transaction aligns with our long-term roadmap and our vision for positioning CMPC over the coming decades. Our focus is to concentrate capabilities and resources where we hold significant scale and clear competitive advantages. Simultaneously, we aim to reinforce our forestry and industrial strengths while evolving into a leaner, more agile organization that cements our standing as a Chilean company with truly global reach,” stated Francisco Ruiz- Tagle, CEO of CMPC.
Smurfit Westrock stands as a leading global packaging and paper manufacturer, operating across 40 countries with 57 paper mills, 450 converting facilities, and roughly 96,000 employees.
“Without question, this acquisition marks our most significant transaction in Latin America since the Smurfit group established its presence here. CMPC has long set the benchmark for our industry in Chile, and bringing this deal across the finish line is a tremendous milestone for us,” noted Álvaro Henao, CEO of Smurfit Westrock Latam.
The transaction remains subject to customary regulatory review and clearance by the National Economic Prosecutor's Office (FNE). Following regulatory approvals and the fulfillment of closing conditions, ownership of the operating companies and related assets will formally transfer. Throughout the approval process and up until closing, CMPC will continue managing all operations covered by the deal—encompassing approximately 1,500 employees—ensuring standard day-to-day business continuity.
