Huhtam?ki Oyj acquires UK corrugated packaging manufacturer

The Finnish packaging company, Huhtam?ki, has acquired all shares of BCP Fluted Packaging Ltd for a purchase price of about EUR 20 million. BCP is privately owned company in the UK that specialises in corrugated packaging for the foodservice, confectionery and cosmetics markets. In a report posted on its website, Huhtamaki said it will continue to implement its strategy of quality growth and expands its product offering.

The net sales of the acquired business during financial year 2012-2013 were approximately EUR 18 million. The acquired company will be renamed Huhtamaki BCP Ltd. and it will become part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment. The acquisition is expected to be EPS accretive as of 2014.

"We are pleased to continue strengthening our position with this targeted acquisition," said Jukka Moisio, CEO of Huhtam?ki Oyj.

"BCP's corrugated food-to-go products complement our existing range of foodservice products perfectly," says Eric Le Lay, executive vice president Foodservice Europe-Asia-Oceania. "We also look forward to serving BCP's current and future customers in the confectionery and cosmetics industries."

"I am extremely pleased to have BCP join the Huhtamaki Group," says Brian Jones, Chairman of BCP. "The Group has both the desire and the resources to grow the business further."