Huhtamaki Group Acquires BCP Fluted Packaging of the U.K.
Print this Article | Send to Colleague
All shares of privately owned BCP were acquired for a purchase price of approximately EUR 20 million. The net sales of the acquired business during financial year 2012-2013 were approximately EUR 18 million. The acquired company will be renamed Huhtamaki BCP Ltd., and it will become part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment. The acquisition is expected to be EPS accretive as of 2014.
"We are pleased to continue strengthening our position with this targeted acquisition," said Jukka Moisio, CEO of Huhtamäki Oyj, the parent company of Huhtamaki Group.
"BCP's corrugated food-to-go products complement our existing range of foodservice products perfectly," noted Eric Le Lay, EVP of Foodservice Europe-Asia-Oceania. "We also look forward to serving BCP's current and future customers in the confectionery and cosmetics industries."
Brian Jones, chairman of BCP, said that "I am extremely pleased to have BCP join the Huhtamaki Group. The Group has both the desire and the resources to grow the business further."
Huhtamäki Oyj is a producer of consumer and specialty packaging with 2012 net sales totaling EUR 2.3 billion. Foodservice and consumer goods markets are served by approximately 14,200 people in 60 manufacturing units and several sales offices in 31 countries.
