Packaging manufacturer Huhtamaki (Espoo / Finland; www.huhtamaki.com) is expanding its business in emerging markets through two acquisitions. The Finnish group has entered into an agreement to acquire the majority of Everest Flexibles (Verulam / South Africa).

The privately owned South African company is focused on laminates and plastic packaging and has annual sales of EUR 40m. Huhtamaki will pay around EUR 58m for 70% ownership of Everest, paid partly in cash and partly in shares. Subject to approval of the competition authorities, the transaction is expected to be finalised in several months. Huhtamaki operates another joint venture in Egypt – see Plasteurope.com of 17.04.2019.

The Finnish company is also growing in India. It is planning to acquire flexible packaging manufacturer Mohan Mutha Polytech (Sri City, Andhra Pradesh / India; www.mmpolytech.com) for a purchase price of approximately EUR 10m. With around 160 employees, the films and stand-up pouches producer generated annual sales of EUR 9m in 2018. This takeover is expected to be completed by the end of 2019.