Finnish company acquires Paris Packaging

Published 12:00 am Friday, September 2, 2011

Reuters reported Thursday that Huhtamaki has acquired assets and business of Paris Packaging Inc., a manufacturer of specialty folding cartons in the United States.

Paris Packaging has an Andalusia manufacturing plant and two other plants that employ 300 people.

With the acquisition Huhtamaki continues to implement its strategy of profitable growth, significantly strengthening its positions in the North American foodservice and consumer goods packaging markets.

The acquisition is expected to be EPS accretive as of 2012.

“This acquisition is an example of the quality growth Huhtamaki is focused on as we leverage our solid financial position to become even more competitive,” says Jukka Moisio, CEO of Huhtamäki Oyj. Huhtamäki is a Finnish company, headquartered in Espoo.

“We are pleased to have acquired such a high quality business,” says Clay Dunn, Executive Vice President North America. “The addition of a new specialty folding carton product platform complements our existing offering of tableware, cups, containers, carriers, trays and serviceware, and demonstrates our commitment to growth in North America.”

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