Huhtamaki Oyj Acquires New Zealand Folding Carton Maker Interpac Packaging
Aug. 29, 2014 - Huhtamaki Oyj said that it has acquired Interpac Packaging Limited based in Auckland, New Zealand. All shares of the privately-owned Interpac Packaging Limited were acquired for a purchase price of approximately EUR 7 million.
Interpac manufactures folded carton packaging for the fast-moving consumer goods and retail products as well as the foodservice market in New Zealand. The company also manufactures corrugated protective packaging for the local wine industry.
Interpac Packaging employs 85 people.
In a press statement, Huhtamaki said, "With the acquisition Huhtamaki continues to implement its strategy of quality growth and to expand its product offering."
According to Huhtamaki, Interpac Packaging's annual net sales are approximately EUR 11 million. The acquired unit will become part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment.
SOURCE: Huhtamaki Oyj