Huhtamaki to acquire Butterworth Paper Cups for €8m
Huhtamäki Oyj's subsidiary has entered into an agreement to acquire Butterworth Paper Cups, a privately owned paper cup and foodservice packaging manufacturer in Malaysia for €8m.
The unit will become part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment with the deal expected to close in April.
Butterworth Paper Cups employs approximately 120 people at its manufacturing unit in Penang, Malaysia.
With the acquisition Huhtamaki expands its foodservice manufacturing footprint to Southeast Asia and strengthens its presence in Malaysia, Singapore and other regional Southeast Asian markets.