Huhtamaki acquires Czech flexible packaging firm Fiomo

Finnish food & beverages packaging specialist Huhtamaki Oyj has acquired Fiomo AS, a privately owned manufacturer of flexible packaging foils and labels in the Czech Republic. With this acquisition, Huhtamaki expands its flexible packaging manufacturing footprint to Eastern Europe and is able to offer agile high quality off-set printing capabilities for smaller production runs for its customers in Europe.
 
“I am pleased to announce this addition in our flexible packaging manufacturing network.  European flexible packaging market is experiencing a positive momentum, with increasing versatility in customers’ needs. Fiomo’s manufacturing capabilities complement our offering and ensure better resourcing and faster response when serving our customers across Europe,” said Olli Koponen, executive vice president, flexible packaging, Huhtamaki Oyj.
   
The annual net sales of the acquired business in 2014 were approximately Eure 21 million and it employs approximately 120 people in its manufacturing unit in the Prague area. The debt-free purchase price is approximately Euro 28 million. The unit will become part of Huhtamaki's flexible packaging business segment. The transaction is expected to be finalised in early 2016.