The acquisition will further strengthen Huhtamaki's labeling business in India by adding new printing technologies into its offering as well as improving its innovation capability. The acquisition is complementary to Huhtamaki's existing labeling product portfolio.
The annual net sales of the business to be acquired is approximately EUR 10 million. It employs altogether 170 people and has two state-of-the-art converting facilities in Daman (West India) and Baddi (North India).
The debt-free purchase price is approximately EUR 13 million. The transaction is expected to be closed at the end of April 2018. The business will become part of the Flexible Packaging business segment.
More info: www.huhtamaki.com