Huhtamäki Oyj acquires a paper tableware manufacturer in the United States
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.
HUHTAMÄKI OYJ
Group Communications
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.
