Smurfit Kappa to acquire Bulgarian bag-in-box packaging plant [Yahoo! Finance]
SMURFIT KAPPA GROUP ADR (SMFKY)
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Source: Yahoo! Finance
The strategic move will expand the company's presence and customer base in Eastern Europe while also increasing its product portfolio and innovation capabilities in the bag-in-box sector. Located in Shumen, Artemis specialises in food and beverage packaging, producing bags for bag-in-box products, as well as films and caps specifically for wine. Following the acquisition, Artemis will be integrated into Kappa's extensive bag-in-box operations in Europe. The financial terms of the deal have not been disclosed. Smurfit Kappa Bag-in-Box CEO Massimiliano Bianchi said: "We made this acquisition strategically to boost our growth in the European market and expand our reach in its eastern region. By continuing to develop and invest in this plant, we can offer our customers more benefits, such as outstanding product quality, high-quality service and the wide-ranging and global expertise of Smurfit Kappa." With more than four decades of industry experience globally, Smurfit Kappa Bag
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