The acquisition will further strengthen Huhtamaki's labeling business in India by adding new printing technologies into its offering, as well as improving its innovation capability. The acquisition is complementary to Huhtamaki's existing labeling product portfolio. Huhtamaki installed India's first Omet iFlex.
The annual net sales of Ajanta Packaging are approximately €10 million (US$12.4 million). It employs altogether 170 people and has two state-of-the-art manufacturing facilities located in Daman, West India and Baddi, North India.
The debt free purchase price is approximately €13 million (US$16 million). The transaction is expected to close at the end of April. The business will become part of Huhtamaki's Flexible Packaging business segment.
Read more about the recent history of Ajanta here
Stay up to date
Subscribe to the free Label News newsletter and receive the latest content every week. We'll never share your email address.