Huhtamaki enters the folding carton packaging business in Europe
Huhtamaki has acquired Delta Print and Packaging Limited ("Delta"), a privately held folding carton packaging manufacturer based in Belfast, Northern Ireland, and its affiliated Polish unit European Packaging Solutions Poland Sp. Z o.o. with a new manufacturing unit in Gliwice, Poland. With the acquisition Huhtamaki continues to implement its growth strategy focused on food and drink packaging and enters the folding carton packaging market also in Europe. "I am very pleased to announce this acquisition," says Jukka Moisio, CEO of Huhtamäki Oyj. "Delta is a perfect addition to our operations in Europe. Their technology is world-class, product range is complementary to our existing foodservice packaging portfolio in Europe and the company is geared for growth."
Delta is specialized in bespoke printed folding carton packaging for the UK and European foodservice, packaged food and retail markets. The net sales of the company for the year 2016 are expected to be approximately EUR 70 million and it employs altogether approximately 300 employees in its two manufacturing units. The debt free purchase price was GBP 80 million (approximately EUR 103 million). The business will become part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment as of May 2016.
"With Delta we are able to serve our European customers even better and offer them a fuller range of paperboard packaging solutions," says Eric Le Lay, Executive Vice President, Foodservice Europe-Asia-Oceania. "We're excited to enter the folding carton packaging business also in Europe," he continues. "The acquisition strengthens our offering for the specialty coffee and QSR segments and gives us significant new opportunities in the packaged food market."
Source: www.huhtamaki.com