Huhtamäki extends North America reach with folding carton acquisition

The US subsidiary of Finland-based Huhtamäki Oyj has acquired the assets and business of Ample Industries, Inc., a converter of folding cartons in the US, in a move to strengthen the group’s position in the North American foodservice packaging market.
 
The assets and business of the privately held Ample Industries were acquired by Huhtamäki, Inc for a purchase price of €23 million (US$31 million). The annual net sales of the acquired business are approximately €45 million (US$60 million). The business, which employs approximately 230 people in Franklin, Ohio, will become part of Huhtamäki's North America business segment.
 
In September, Huhtamäki acquired the assets of Paris Packaging, Inc., a privately held manufacturer of specialty folding cartons, in an earlier move to strengthen its position in the US foodservice packaging market. Paris Packaging employed 300 people in plants located in Paris, Texas, in Andalusia, Alabama and in Hopkinsville, Kentucky. Huhtamäki said it added a new product platform, a talented workforce and a stronger manufacturing presence in the south and south-east to its North America operation.
 
Clay Dunn, Huhtamäki executive vice president for North America, said: ‘We plan to further increase our presence in the foodservice market in North America. In addition to the recently acquired folding carton capabilities we plan to increase our capacity in paper cups and further expand our range with pressed paperboard plates.’
 
‘We are pleased to announce another acquisition implementing our strategy of profitable growth,’ added Jukka Moisio, chief executive officer of Huhtamäki Oyj. ‘With Ample Industries and the previously acquired business of Paris Packaging, we have successfully added a new line of high-quality products into our North American foodservice assortment. This complementary range extension allows us to serve our customers even better.’