Huhtamaki Acquires Majority Stake of CupPrint in Ireland for EUR 22 Million
June 1, 2018 - Huhtamaki announced that it has acquired the majority of Cup Print Unlimited Company, a privately-owned paper cup manufacturer based in the Republic of Ireland. With the acquisition, Huhtamaki improves its access to the growing market of short run custom-printed cups and boosts its on-line commercial activity. The short run capability also allows Huhtamaki to even better support its current customers' promotional activities.
CupPrint is specialized in short run custom printed cups with quick delivery time. It has an on-line service model which allows efficient design and delivery of small volumes.
CupPrint's annual net sales are approximately EUR 14 million and it employs altogether approximately 110 people in its manufacturing unit in Ireland and sales office in Germany.
The debt free purchase price for 70% ownership of CupPrint was approximately EUR 22 million. The business will be reported as part of the Foodservice Europe-Asia-Oceania business segment.
Huhtamaki is a global packaging company specializing in packaging solutions for food and drink. To learn more, please visit: www.huhtamaki.com.
SOURCE: Huhtamaki Group