Huhtamaki acquires the majority of an Australian foodservice packaging distributor

Huhtamaki has acquired the majority of Tailored Packaging, an Australian foodservice packaging distribution and wholesale group. With the acquisition Huhtamaki gains access to a national network of distribution centers across Australia, allowing it to serve its customers even better and with more agility.

Tailored Packaging is a national foodservice packaging distribution and wholesale group, founded in Sydney in 2001 and having sales offices and distribution centers in each state of Australia. Tailored Packaging employs app. 130 people and is one of the largest importers and distributors of foodservice packaging in Australia.

The debt free purchase price for 65% ownership of the joint venture was approximately EUR 35 million. As the majority shareholder Huhtamaki will consolidate the joint venture company as a subsidiary in the Group’s financial reporting. The business will be reported as part of the Foodservice Europe-Asia-Oceania business segment.
http://www.huhtamaki.com/-/huhtamaki-acquires-the-majority-of-an-australian-foodservice-packaging-distributor

Related Posts

Intertape Polymer Group Provides Update on 2020 Second Quarter Results

Intertape Polymer Group Inc. announced its preliminary estimated revenue for the three months ended June 30, 2020. The Company estimates that its revenue is approximately $267 million for the three months ended June 30, 2020, compared to the outlook range communicated on May 13, 2020 of $235 million to $250 million. With the outperformance of revenue, management also expects adjusted EBITDA(1) to be greater than the top end of the outlook range of $34 million that the Company communicated on May 13, 2020 as well.

ProAmpac acquires packaging supplier Prairie State Group (canplastics.com)

In a deal that expands its position in the food and pet food markets and beefs up its labeling capabilities, flexible packaging supplier ProAmpac has acquired Prairie State Group (PSG), an SQF-certified provider of flexible packaging and labeling services based in Franklin Park, Ill. The financial terms of the transaction were not disclosed. PSG produces a range of SQF-certified and environmentally-friendly flexible packaging and label solutions, including wrappers, pouches, compostable film, roll stock, and pressure-sensitive labels.

Smurfit Kappa announces €25 million Polish investment

Smurfit Kappa has announced a further investment of over €25 million at its Pruszkow ‘mega-plant’ located in central Poland. This investment forms part of the accelerated capital investment programme following the company’s €660 million equity capital raise which took place in November 2020. This latest investment will double the output from the facility and result in the creation of 25 new jobs, bringing employment to more than 230 staff at the location. Construction is due to commence in July of this year and be completed during 2022. Upon completion, the newly expanded facility will be 37,500 metres2, making it Smurfit Kappa’s largest facility in Poland and one of the largest facilities for Smurfit Kappa in Europe. The customer portfolio includes some of the leading brands in the FMCG food and beverage sectors and serves both international and local customers.
Back To Top
×Close search
Search