Huhtamaki enters the foodservice packaging market in India

Huhtamaki has acquired 51% of Val Pack Solutions Private Limited ("Valpack"), a privately held paper cup manufacturer based in Mumbai, India.

With the acquisition Huhtamaki enters the growing foodservice packaging market in India, where many of its key customers already are present. Valpack's annualized net sales are approx. EUR 4 million and it employs approx. 100 people in its manufacturing unit in the Mumbai area. The debt-free purchase price was approx. EUR 2 million.

The business will become part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment. With Valpack, a well-established company with high manufacturing standards, Huhtamaki is able to serve locally. The company also looks forward to growing the business further by investing in additional capacity and introducing an extended offering of foodservice packaging to the Indian market.

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