Coding And Marking - Everest Flexibles Acquired By Huhtamaki

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Coding And Marking - Everest Flexibles Acquired By Huhtamaki

Coding And Marking - Everest Flexibles Acquired By Huhtamaki

On September 30 it was announced that Everest Flexibles, a flexible packaging manufacturer based in South Africa, had been purchased by Huhtamaki, a manufacturer of food and drink packaging headquartered in Espoo, Finland.  According to reports, Huhtamaki will pay an enterprise value of $63.42 million in cash and shares for 70% ownership of Everest Flexibles.
 
The acquisition will strengthen Huhtamaki's market position and broaden its South Africa flexible packaging manufacturing operations.  Reports say Everest Flexibles employs over 400 individuals across its operations which include a Durban manufacturing facility and neighboring cylinder production facility.  The company's customer portfolio and product range will enhance Huhtamaki's portfolio.
 
It is anticipated the transaction will be completed in the coming months, as it is subject to approval of competition authorities.  A joint venture (JV) will be signed between Everest's sellers and Huhtamaki's Foodservice and Fiber Packaging operations, allowing Everest Flexibles 30% ownership of Huhtamaki's activities in South Africa.
 
Olli Koponen, executive VP at Huhtamaki Flexible Packaging, said, "With Everest we will be able to serve our current and new customers in South Africa and the surrounding region even better, offering them a full range of flexible packaging solutions with faster lead times."
 
In July, Huhtamaki partnered with First Mile, a UK recycling firm to improve the success of disposable cup recycling throughout the UK; the company also launched a compostable double-walled hot cup with Bioware Impresso.
 
With 24 sales offices in 35 countries, Huhtamaki runs a network of 79 manufacturing facilities.
 
Flexible packaging, paper-based containers, cardboard, rigid plastic, and glass are a few of the substrates our industrial coding and marking systems are designed for.  For innovative coding technology you can rely on every time regardless of the production environment, count on Markem-Imaje to deliver beyond your expectations.

January 10, 2014
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