INVESTMENT NEWS
Irish giant acquires the corrugated plant in Lukovit
The Irish giant in the field of paper and packaging production Smurfit Kappa wants to acquire 100 percent of the Bulgarian company Vitalvel AD, it is clear from a notice sent to the Commission for Protection of Competition. It does not clear the financial parameters of the deal.
Smurfit Kappa owns over 350 businesses in 33 countries across Europe and America. The company's activities are related to the production and trade of corrugated cardboard, corrugated packaging and others. In 2017, the company had a turnover of EUR 8.6 billion and the number of employees worldwide reached 45 000 people.
Smurfit Kappa operates businesses in both Greece and Romania, and last year it also acquired companies in Serbia, as well as in France and the Netherlands. The Bulgarian Vitavel AD is the successor of the plant in Lukovit, established in 1970. In 1995 the enterprise was privatized by the management team. The owner of 84.90% of the shares is Vitalvel Invest AD, the rest are owned by individuals.
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