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 debt free purchase price is approximately Euro 13 million. The transaction is expected to be closed at the end of April, 2018.

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Huhtamäki to acquire business and related assets of Ajanta Packaging in India

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 business will become part of the Flexible Packaging business segment, as the company says in the press release received by Lesprom Network.

The acquisition will further strengthen Huhtamaki's labeling business in India by adding new printing technologies into its offering as well as improving its innovation capability.

The annual net sales of the business to be acquired are approximately Euro 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 Euro 13 million. The transaction is expected to be closed at the end of April, 2018.

Huhtamaki is a global specialist in packaging for food and drink.