Finnish packaging manufacturer, Huhtamaki Oyj, has bought New Zealand folding carton maker Interpac Packaging, Auckland, for seven million euros ($AU9.91m) to expand its product range.
The printing and packaging company manufactures folded carton packaging for consumer goods and retail products. It has a strong presence as a carton provider to the food service industry in New Zealand, and its corrugated packaging is used by the local wine industry.
Interpac employs eight-five people and achieves annual sales of eleven million euros ($AU15.57m), Huhtamaki said in a statement.
The New Zealand company was privately owned, largely by interests associated with Bill Berry. It transferred ownership to Huhtamaki (NZ) Holdings on August 29, according to Companies Office documents. The company will now be part of Huhtamaki’s Foodservice Europe-Asia-Oceania business segment.
"With the acquisition, Huhtamaki continues to implement its strategy of quality of growth and to expand its product offering," its new owners stated.
