Huhtamäki, the global manufacturer of consumer and specialty packaging, is expanding its films business. The Finnish company has agreed to acquire the privately owned Prisma Pack, the Brazilian hygienic films manufacturer. In a press release Huhtamäki states, that its subsidiary will acquire all the quotas of Prisma Pack for a debt free purchase price of EUR 20 million (BRL 47 million).
"Our target is to reach a leading position globally in films for hygiene applications," says Peter Wahsner, Executive Vice President Films. "The Prisma Pack acquisition complements our manufacturing footprint, as we are just starting operations at our brand new plant in Thailand. With manufacturing sites in Asia, Europe, North America and South America, we are now able to serve our global key customers from a local supply position throughout the world."
Prisma Pack is a market leader in hygienic films in Brazil. Hygienic films are mainly used in personal care products, such as disposable diapers, feminine protection and incontinence diapers. Prisma Pack's net sales in 2010 were approximately EUR 40 million. The company employs approximately 200 people.
Huhtamäki expands its films business by Brazilian acquisition