The acquisition of Laminor will allow Huhtamaki to expand its tube laminate business
Huhtamaki has completed the acquisition of full stake in Laminor (Credit: Adam Radosavljevic from Pixabay)
Finnish packaging solutions provider Huhtamaki has completed the purchase of full ownership of its Brazilian joint venture (JV) firm Laminor for around €30m.
Laminor has expertise in the production of tube laminates, specifically for oral care applications.
Huhtamaki and Bemis established Laminor as a 50/50 JV in 2002
In 2002, Huhtamaki established Laminor as a 50/50 JV along with Bemis, which is currently a business unit of Amcor.
The acquisition of Laminor will help Huhtamaki to expand its tube laminate business, a significant part of the group’s flexible packaging offering.
With around 130 employees, Laminor generated net sales of around €25m in 2018.
Huhtamaki will include the acquired business in the flexible packaging business segment. It will be consolidated as a subsidiary in the group’s financial reporting, said the company.
In January this year, Huhtamaki completed the acquisition of Indian flexible packaging manufacturer Mohan Mutha Polytech Private Limited (MMPPL) for around €10m ($11m).
Based in the Sri City of Andhra Pradesh, MMPPL produces and supplies a range of packaging solutions as per the customer requirements.
In December 2019, Huhtamaki completed the acquisition of South African company Everest Flexibles for an enterprise value of €58m ($64.5m).
With around 460 employees, Everest is a privately-owned company that provides flexible packaging solutions to its customers.
Huhtamaki, which employs around 18,600 employees, Huhtamaki offers sustainable food-on-the-go and food-on-the shelf packaging solutions to its customers.
The company aims to make all of its packaging recyclable, compostable or reusable by 2030. It has operations in 35 countries and 81 sites across the world.