Huhtamaki has acquired the majority of Cup Print Unlimited Company, a privately-owned paper cup manufacturer based in the Republic of Ireland. The debt free purchase price for 70% ownership of CupPrint was approximately Euro 22 million, as the company said in the press release received by Lesprom Network.
With the acquisition Huhtamaki improves its access to the growing market of short run custom-printed cups and boosts its on-line commercial activity. The short run capability also allows Huhtamaki to even better support its current customers' promotional activities.
The business will be reported as part of the Foodservice Europe-Asia-Oceania business segment.
CupPrint is specialized in short run custom printed cups with quick delivery time. CupPrint's annual net sales are approximately Euro 14 million and it employs altogether approximately 110 people in its manufacturing unit in Ireland and sales office in Germany.
Huhtamaki is a global specialist in packaging for food and drink.
