Huhtamäki Oyj completes $336m Positive Packaging acquisition

By Jenny Eagle

- Last updated on GMT

Related tags United arab emirates Middle east Asia

Huhtamäki Oyj Positive Packaging acquisition
Huhtamaki Oyj has completed a $336m acquisition of Positive Packaging, strengthening its position in the fast-growing emerging markets.

Positive Packaging has nine manufacturing facilities in India and the UAE and significant business in Africa and other export markets.

Flexible Packaging business segment

The business will be consolidated into Huhtamaki’s Flexible Packaging business segment as of February 1.

Katariina Hietaranta, head of group communications and investor relations, Huhtamaki, told FoodProductionDaily​ in July, following the integration of the two companies it will look for growth and new product development.

Positive Packaging annual net sales are approximately €220m and it employs approximately 2,500 people in India and UAE as well as in sales offices in seven countries.

Complementary product range

Hietaranta said it chose to partner with the company because it has a similar customer base and complementary product range including pouches for the frozen food industry, dairy products, tea and coffee.

The combined business creates an unmatched footprint in the IMEA (India, Middle East & Africa) region and this gives us the platform to become a strategic growth partner for our customers in their emerging markets growth strategy - including the Middle East​,” she said.

Positive Packaging has three manufacturing facilities in the UAE, one of which is brand new.

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