Huhtamaki has acquired full ownership of Huhtamaki Tailored Packaging (HTP), its Australian foodservice packaging distribution and wholesale group.
HTP employs 130 people, and is today one of the largest importers and distributors of foodservice packaging in Australia. It supplies 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 per cent of the company prior to this transaction.
The debt-free purchase price for the additional shares is approximately €19 million ($29.5 million).
The business reported as part of the Foodservice Europe-Asia-Oceanic business segment since the beginning of operations in five years ago.
