Huhtamäki Oyj to Acquire a Films Manufacturer in Brazil
Huhtamaki's Brazilian subsidiary will acquire all the quotas of Prisma Pack for a debt free purchase price of EUR 20 million (BRL 47 million).
Aug 15 2011 --- Huhtamaki has entered into an agreement to acquire the Brazilian hygienic films manufacturer Prisma Pack Indústria de Filmes Técnicos e Embalagens Ltda. The acquisition marks an important step in Huhtamaki's strategy of profitable growth and is significantly strengthening its Films segment's geographic scope as well as presence within the growing market of hygienic films.
Prisma Pack is currently privately owned and is a market leader in hygienic films in Brazil. Hygienic films are mainly used in personal care products, such as disposable diapers, feminine protection and incontinence diapers. Prisma Pack's net sales in 2010 were approximately EUR 40 million. The company has a strong track record of sales growth since its beginning in 2003. The company employs approximately 200 people. Huhtamaki's Brazilian subsidiary will acquire all the quotas of Prisma Pack for a debt free purchase price of EUR 20 million (BRL 47 million).
"We are very excited about this acquisition," says Jukka Moisio, CEO of Huhtamäki Oyj. "The strategic fit is perfect. With Prisma Pack we gain a strong position in hygienic films in the fast growing Brazilian market and improve our ability to serve our global customers in South America."
"Our target is to reach a leading position globally in films for hygiene applications," says Peter Wahsner, Executive Vice President Films. "The Prisma Pack acquisition complements our manufacturing footprint, as we are just starting operations at our brand new plant in Thailand. With manufacturing sites in Asia, Europe, North America and South America, we are now able to serve our global key customers from a local supply position throughout the world."
