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Smurfit Kappa to take over Bulgarian packaging maker
New takeover Smurfit Kappa has unveiled plans to acquire Bulgarian packaging producer Vitavel AD.
The company has applied for the regulatory approval of Bulgaria’s watchdog Commission of Protection of Competition (CPC), according to the information obtained by local news agency Novinite. The value of the planned transaction was not disclosed.
Vitavel says its portfolio includes corrugated board, paper bags, and various packaging products, among others. The Bulgarian business operates a production facility in Lukovit, in the country’s northern part. Vitavel launched production activities in 1970, and in 1995, it was pri-vatised through a management buyout.