Huhtamaki has agreed to acquire the assets and operations of Mohan Mutha Polytech Private Limited (MMPPL), a privately-owned flexible packaging manufacturer located in Sri City, India. The acquisition allows Huhtamaki to speed up its growth in India by improving its capability to serve the customers in South India, as the company says in the press release received by Lesprom Network.
MMPPL has approximately 160 employees and its net sales in 2018 were approximately Euro 9 million. The business will be consolidated into the Group’s flexible packaging business in India.
The debt-free purchase price is approximately Euro 10 million. The transaction is expected to be closed by the end of 2019.
