Huhtamaki has completed the acquisition of flexible packaging manufacturer Mohan Mutha Polytech Private Limited (MMPPL) for approximately €10 million, as it aims to accelerate growth in India.
The deal includes all of the assets and operations of the privately-owned manufacturer. MMPPLL offers plastic roll stock and pouch products.
Located in Sri City, Andhra Pradesh, India, the acquisition of MMPPLL will enable Huhtamaki to speed up its growth in the country and improve its capability to serve its customers in South India.
According to Huhtamaki, MMPPL recorded net sales of approximately €9 million in 2018 and has approximately 160 employees.
Based in Finland, Huhtamaki organises its business into four segments: Foodservice Europe-Asia-Oceania, North America, Flexible Packaging and Fiber Packaging.
Following the deal, MMPPL will be consolidated into Huhtamaki’s flexible packaging business segment as of today. The business produces flexible packaging materials, pouches and labels for the food and beverage industry.
In September last year, Huhtamaki agreed to acquire a majority stake in South Africa-based flexible packaging manufacturer Everest Flexibles, for approximately €58 million. The deal was completed on 18 December 2019, in which Everest Flexibles joined Huhtamaki’s flexible packaging business segment.
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