Finnish packaging manufacturer Huhtamaki has acquired a majority stake in Australian foodservice packaging distributor Tailored Packaging for €35 million.
Huhtamaki will acquire a 65% stake in the company as a result of the agreement, and Tailored Packaging will operate as a subsidiary in Huhtamaki’s Foodservice Europe-Asia-Oceania division.
Founded in Sydney in 2001, Tailored Packaging distributes a range of equipment for food service applications such as kitchen foil, cling film and also provides custom printing services for clients such as Coca-Cola, Boost Bars and Dymocks.
Tailored Packaging has distribution centres and sales offices in each state of Australia, employs 130 people and is one of the largest distributors of foodservice packaging in Australia.
In a statement, Huhtamaki said: “With the acquisition Huhtamaki gains access to a national network of distribution centres across Australia, allowing it to serve its customers even better and with more agility.”
The agreement further strengthens Huhtamaki’s position in the global foodservice packaging segment, as the deal follows the establishment of a joint venture with Scottish paper bag supplier Smith Anderson earlier this year.
Last year, Huhtamaki acquired International Paper’s foodservice packaging operations in China for €15 million, and the majority take in Tailored Packaging will further strengthen its position in the Asia Pacific region.
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