Kappa Star Group has reached an agreement for the sale of its 75 percent stake in Belgrade Paper Factory (Fabrika Hartije Beograd) and Avala Ada factory to Smurfit Kappa Group while retaining ownership of the remaining 25 percent.

Smurfit Kappa Group from Ireland is one of the world’s largest manufacturers of paper-based packaging. Belgrade Paper Factory and Avala Ada are the leading producers of paper packaging in the Adriatic Region, so this acquisition will provide Smurfit Kappa Group with an excellent platform to strengthen its position in Southeast Europe.