Huhtamäki Oyj completes acquisition of Positive Packaging

Finland-based Huhtamaki has completed the acquisition of Positive Packaging, a flexible packaging company with nine manufacturing facilities in India and the United Arab Emirates as well as significant business in Africa and other export markets.

With the acquisition, Huhtamaki continues to implement its strategy of growth and significantly strengthens its position in the fast-growing emerging markets. The annual net sales of the acquired business are approximately €220 million and it employs approximately 2,500 people in India and UAE as well as in sales offices in seven countries. The debt-free purchase price was US$336 million. The business will be consolidated into the Flexible Packaging business segment as of Feb. 1.

Huhtamaki is a global specialist in packaging for food and drink. With its network of 58 manufacturing units and 18 sales offices in 30 countries, it is well placed to support customer growth wherever they operate. Mastering three distinctive packaging technologies, approximately 13,800 employees develop and make packaging that helps products reach more people, more easily. In 2013, net sales totaled €2.3 billion.

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