The acquisition of Mohan Mutha Polytech will allow Huhtamaki to speed up its growth in India
Image: Huhtamaki has agreed to acquire Indian flexible packaging firm Mohan Mutha Polytech. Photo: courtesy of Tumisu from Pixabay.
Finland-based packaging solutions provider Huhtamaki has agreed to acquire India-based flexible packaging firm Mohan Mutha Polytech Private Limited (MMPPL) for around €10m (£8.13m)
Based in Sri City of Andhra Pradesh, MMPPL is a privately-owned flexible packaging manufacturer that has around 160 employees. Its net sales were about €9m (£7.3m) in the last fiscal year.
Mohan Mutha Polytech is a flexible packaging manufacturer in India
The acquisition of MMPPL will enable Huhtamaki to enhance its growth in India by improving its capability to serve the customers in South India.
Huhtamaki will include the acquired business into its flexible packaging business in India. The deal is expected to be completed by the end of this year.
Separately, Huhtamaki has agreed to acquire South Africa-based flexible packaging manufacturer Everest Flexibles for around €58m (£51.6m).
The consideration for 70% stake of Everest will be paid partly in cash and partly in shares, as the sellers of Everest will establish a joint venture (JV) with Huhtamaki’s foodservice and fibre packaging operations in South Africa.
Huhtamaki will include Everest in its current flexible packaging sales organisation in South Africa and will operate under the flexible packaging business segment.
In April 2018, Huhtamaki purchased a 65% stake in Australian foodservice packaging distributor Tailored Packaging for €35m (£28.4m).
Tailored Packaging imports and distributes bags, bin liners, foodservice wraps, food prepackaging, containers, cups, tableware, and hygiene and industrial products to its clients.
In July this year, Huhtamaki expanded its Bioware compostable range with the introduction of a new Bioware Impresso double-walled hot cup.
Bioware Impresso is made from a sustainable 100% PEFC (Programme for the Endorsement of Forest Certification) certified paperboard with a plant-based coating on the inside.
Huhtamaki, which is a global specialist in packaging for food and drink, has a network of 79 manufacturing units and 24 sales only offices in 35 countries.