Huhtamaki completes Fiomo acquisition

Huhtamaki has completed the acquisition of Fiomo, a manufacturer of flexible packaging foils and labels in the Czech Republic.

Fiomo will be consolidated into the Huhtamaki Flexible Packaging business segment as of February 1

With the acquisition, as previously detailed by L&L here, Huhtamaki has expanded its flexible packaging manufacturing footprint in Europe, and is now able to offer agile high quality offset printing capabilities for smaller production runs for its customers.

The annual net sales of the acquired business in 2014 were approximately 21 million EUR (23 million USD*). The debt-free purchase price was approximately 28 million EUR (30.5 million USD*). The business will be consolidated into the Huhtamaki Flexible Packaging business segment as of February 1.

*currency conversion correct as of January 29, 2016 via xe.com/ucc

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