Huhtamaki Acquires Butterworth Paper Cups
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Huhtamaki, Espoo, Finland, reports that it has completed the acquisition of Butterworth Paper Cups Sdn Bhd, a privately owned paper cup and foodservice packaging manufacturer in Malaysia. With the acquisition, Huhtamaki expands its foodservice manufacturing footprint to Southeast Asia and significantly strengthens its presence and capability to serve customers in Malaysia, Singapore, and other regional Southeast Asian markets.
The purchase price of approximately EUR 8 million roughly corresponds to the annual net sales of the business. The company employs approximately 120 people in its manufacturing unit in Penang, Malaysia. The business was consolidated into the Foodservice Europe-Asia-Oceania business segment as of April 1.
Huhtamaki is a global specialist in packaging for food and drink. The company operates 68 manufacturing units and 23 sales offices in 34 countries. It has approximately 16,400 employees.
