New deal Bulgaria’s organic product specialist Smart Organic has signed a contract to buy local biodegradable packaging manufacturer Biopack.
The transaction was valued at about BGN 218,000 (USD 112,000), according to the information obtained by local news site Seenews.com.
Based in Plovdiv, a city located in Bulgaria’s central part, Biopack specialises in making compostable and biodegradable carton fibre and plant-based packaging. The business supplies its output to a number of companies from the country’s food industry. Some of the products in Biopack’s portfolio include cups, bags, and straws, among others.
Owing to the latest acquisition, Smart Organic will be enabled to expand its customer base with new clients from the hospitality and food service sectors.
Based in the country’s capital Sofia, Smart Organic is listed on the Bulgarian Stock Exchange (BSE).