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Smurfit Kappa cleared to acquire Bulgarian packaging maker
Smurfit Kappa has obtained the reg-ulatory approval of Bulgaria’s competition watchdog Commission of Protection of Competition (CPC) to take over local company Vitavel, manufacturer of corrugated board, paper bags, and various packag-ing products, among others.
The value of the planned takeover was not disclosed.
The Bulgarian firm operates a production facility in Lukovit, in the country’s southern part. The factory is ISO 9001 certified, according to data from Vitavel. The company initiated manufacturing activities in 1970, and in 1995, Vitavel was privatised through a management buyout.