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The acquisition will further strengthen Huhtamaki's labeling business in India by adding new printing technologies.
March 23, 2018
By: Anthony Locicero
Copy editor, New York Post
Huhtamaki has entered into an agreement to acquire the Indian business and related assets of Ajanta Packaging, a privately owned manufacturer of pressure sensitive labels. The annual net sales of the business to be acquired are approximately €10 million. It employs altogether 170 people and has two state of the art manufacturing facilities located in Daman (West India) and Baddi (North India). The debt free purchase price is approximately €13 million. The transaction is expected to be closed at the end of April 2018. The business will become part of the Flexible Packaging business segment.
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