03.08.2016

Huhtamaki – Food service packaging manufacturer acquired

Huhtamaki, a Finnish food and drink packaging manufacturer, announced it has acquired 51% of Val Pack Solutions Private Limited, a privately held paper cup manufacturer based in Mumbai.

With the acquisition, the company enters the growing foodservice packaging market in India, where many of its key customers are present, it said. Huhtamaki’s latest financial statements show net sales growth of 6% total and 9% specifically in emerging markets.

Valpack’s annualized net sales are about EUR 4 million and it employs approximately 100 people in its manufacturing unit in the Mumbai area. The debt-free purchase price was about EUR 2 million.

The business will become part of Huhtamaki’s Foodservice Europe-Asia-Oceania business segment.


Related News