Huhtamäki Oyj acquires a paper tableware manufacturer in the United States
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 30.8.2012 AT 20:30
Huhtamaki has acquired the assets and business of Winterfield, LLC, a manufacturer of paper tableware in the United States. With the acquisition Huhtamaki continues to implement its strategy of profitable growth, further strengthening its positions in the North American retail and foodservice packaging markets.
The assets and business of privately held Winterfield, LLC, were acquired by Huhtamaki, Inc., Huhtamäki Oyj's US based subsidiary, for a purchase price of EUR 12 million. The annual net sales of the acquired business are approximately EUR 23 million. The business, which employs approximately 100 people in two manufacturing units located in Marion, Indiana, will become part of Huhtamaki's North America business segment.
"This acquisition further demonstrates our ability to leverage the Group's solid financial position and our commitment to growth in North America," says Jukka Moisio, CEO of Huhtamäki Oyj.
"Our North American growth strategy is focused on improving our offering to serve the evolving needs of customers for tableware in the foodservice and retail markets," says Clay Dunn, Executive Vice President North America. "We are pleased to add Winterfield's plain, coated and printed paper plates and cups to our product portfolio," he continues.
For further information, please contact:
Jukka Moisio, CEO, tel. +358 10 686 7801
Timo Salonen, CFO, tel. +358 10 686 7880
Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2011 net sales totaling EUR 2 billion. Foodservice and consumer goods markets are served by approximately 14,000 people in 60 manufacturing units and several sales offices in 31 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and its share is quoted on NASDAQ OMX Helsinki Ltd. Additional information is available at www.huhtamaki.com.