Smurfit Kappa Group has acquired two paper mills in Serbia from Kappa Star Group for €133m. The transaction includes the purchase of the Fabrika Hartije and Avala Ada paper mills in Belgrade. The Irish company is aiming to expand its geographic footprint. Smurfit Kappa Group is a leading paper-based packaging manufacturer, with operations in Europe and the US.
“We are pleased to announce our agreement to acquire FHB and Avala Ada, which will be a cornerstone to the expansion of our business in Southeast Europe. We look forward to welcoming their experienced teams into the Smurfit Kappa Group, and we are confident their expertise and the high quality of the companies’ asset bases will provide us with an excellent platform to grow in the region and further strengthen our European offering for our new and existing customers,” said Tony Smurfit, CEO of Smurfit Kappa Group.
