Huhtamaki and CupPrint Join Forces
Intro: The majority joint venture boosts Huhtamaki’s digitalization capabilities and gives access to short run, custom-printed cup market.
Huhtamaki has today acquired the majority (70%) of CupPrint, Europe’s leading manufacturer of custom printed cups manufactured in short runs. The 22 million acquisition of this innovative Irish paper cup company enhances Huhtamaki’s digitalization capabilities. It also allows access to the short run, custom printed cup market, establishing us as a leader in this attractive segment.
More choice for both new and current customers
The joint venture allows Huhtamaki to better serve the needs of a new type of clientele, such as independent coffee and ice cream shops, looking for lower volumes and fast deliveries. As importantly, the acquired short run capabilities also improve our promotional offering to current customers.
“By combining the two companies’ strengths, we can serve our customers even better: CupPrint offers reduced lead times and agility, while Huhtamaki brings its global footprint and financial strength to the partnership. Many customers across Europe will also value the possibility to order smaller quantities of custom printed cups from a trusted provider. In addition, we are happy to introduce them to CupPrint’s 3D online design tool,” says Philippe Ferrand, Managing Director of Huhtamaki Foodservice Southern Europe & UK region.
Growing the business outside CupPrint’s current core markets
CupPrint currently sells about half of its volumes in short runs, starting at just 1,000 cups. There is a large portfolio of single and double wall coffee cups as well as ice cream cups.
Currently, the large majority of CupPrint customers are distributors, online printers and some coffee shop chains. Additionally, the company serves small and medium size customers, such as media agencies and independent cafés. Huhtamaki is looking at growing the business outside CupPrint’s current core markets.
“This joint venture with Huhtamaki gives Cupprint the opportunity to accelerate its unique business model into more international markets and non-core segments,” comments the founder and CEO of CupPrint Terry Fox, who will remain as General Manager of the company.
Keeping the customer at the heart, manufactured in Ireland
With the acquisition, CupPrint’s existing management will retain 30% of the ownership and continue to lead the company. CupPrint will continue to operate under its brand name CupPrint out of Ennis, Republic of Ireland, and keep the sales office in Germany.
The acquisition brings no changes as of now for contracts or contact persons at Huhtamaki or CupPrint. It is the utmost priority for both companies to ensure that the quality of service and products remains unchanged.
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Huhtamaki is a global specialist in packaging for food and drink. With our network of 76 manufacturing units and additional 24 sales only offices in altogether 34 countries, we’re well placed to support our customers’ growth wherever they operate. Mastering three distinctive packaging technologies, approximately 17,600 employees develop and make packaging that helps great products reach more people, more easily.
In 2017 our net sales totaled EUR 3.0 billion. The Group has its head office in Espoo, Finland and the parent company Huhtamäki Oyj is listed on Nasdaq Helsinki Ltd. Additional information is available at www.huhtamaki.com