Huhtamäki Oyj acquires Interpac Packaging for $9m
Interpac manufactures folded carton packaging for the fast-moving consumer goods and retail products in New Zealand. Clients include Hubbard’s, Independent Liquor, Burger King and Bell Tea.
Product range extension
It also manufactures corrugated protective packaging for the local wine industry. The company employs 85 people.
Katariina Hietaranta, head of group communications, Huhtamäki Oyj, told FoodProductionDaily, the transaction was finalized on August 29 and it will expand its food service product offering to include folded carton products in Oceania.
“Interpac’s product range is complementary to Huhtamaki’s current product portfolio in New Zealand, and in some instances common customers are served,” she said.
“There is no overlap and the acquisition is giving Huhtamaki a complementary range extension. This acquisition will add to the existing Huhtamaki businesses in New Zealand and allows us to better serve our customers.”
Hietaranta added, Huhtamaki serves food and food service packaging markets globally and it has a long history in Oceania with a good position in the New Zealand market, serving local and international customers.
Seamless business transition
“Interpac has become part of Huhtamaki’s Foodservice Europe-Asia-Oceania business segment. Daniel Telfer remains general manager of Interpac, reporting to Onur Yilmaz who heads Huhtamaki's food service business in New Zealand,” she said.
“It is very important for Huhtamaki the business transition is seamless and all key people remain in the company.
“The company has an ambitious growth strategy. A significant part of that growth is expected to be organic, as Huhtamaki already has good positions in both developed countries as well as the more rapidly growing emerging markets. It is also possible that there will be other acquisitions within the group.”
All shares of the privately owned Interpac Packaging Limited were acquired for €7m ($9m). The annual net sales of the acquired business are approximately €11m ($14m).