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Industry News, Mergers and Acquisitions, Printers News

Huhtamaki Enters Foodservice Packaging Market in India

Acquires 51% of Val Pack Solutions Private Limited, a privately held paper cup manufacturer in Mumbai, India.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

packaging market in India, where many of its key customers already are present.
 
“Many of our global and regional customers have plans to grow in India,” said Eric Le Lay, EVP, Foodservice Europe-Asia-Oceania. “With Valpack, a well-established company with high manufacturing standards, we’re able to serve them locally. We also look forward to growing the business further by investing in additional capacity and introducing an extended offering of foodservice packaging to the Indian market.”
 
Valpack’s annualized net sales are approximately €4 million and it employs approximately 100 people in its manufacturing unit in the Mumbai area. The debt-free purchase price was approximately €2 million. The business will become part of Huhtamaki’s Foodservice Europe-Asia-Oceania business segment.

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