Huhtamaki acquires 70 percent majority in CupPrint
04 June 2018 --- Finnish food and drink packaging specialists, Huhtamaki, has acquired a 70 percent majority in Cup Print, a privately-owned paper cup manufacturer based in the Republic of Ireland. The debt-free purchase price for 70 percent ownership of CupPrint was approximately €22 million (US$25.8 million).
With the acquisition, Huhtamaki improves its access to the growing market of short-run custom-printed cups and boosts its online commercial activity. The short run capability also allows Huhtamaki to better support its current customers' promotional activities.
CupPrint is specialized in short run custom printed cups with quick delivery time. It has an online service model which allows efficient design and delivery of small volumes. CupPrint's annual net sales are approximately €14 million (US$16 million) and it employs altogether approximately 110 people in its manufacturing unit in Ireland and sales office in Germany.
The business will be reported as part of the Foodservice Europe-Asia-Oceania business segment.
