Huhtamaki Acquires Full Ownership of Its Foodservice Distribution Joint Venture in Australia
Huhtamaki acquires full ownership of its foodservice distribution joint venture in Australia
HUHTAMÄKI OYJ PRESS RELEASE 20.2.2023 AT 9:15
Huhtamaki has acquired full ownership of Huhtamaki Tailored Packaging Pty Ltd (HTP), the Australian foodservice packaging distribution and wholesale group.
HTP employs more than 130 people and is today one of the largest importers and distributors of foodservice packaging in Australia serving a wide network of customers including metropolitan and regional packaging wholesalers, food wholesalers, club and hospitality suppliers, and national quick service restaurant businesses.
Huhtamaki acquired a majority stake in the business in 2018 and held approximately 76% of the company prior to this transaction. The debt free purchase price for the additional shares is approximately EUR 19 million. The business has been reported as part of the Foodservice Europe-Asia-Oceania business segment since the beginning of operations in 2018.