Huhtamaki PPL completes Positive Packaging takeover deal

Huhtamaki PPL Ltd has announced that the company has completed the deal to acquire Positive Packaging Industries Limited, a company engaged in the business of flexible packaging. In July 2014, Huhtamaki, the Finland-based global manufacturer of consumer and specialty packaging, had entered into an agreement to acquire Positive Packaging Industries for Euro 247 million (about Rs 2009 crore).
 
Positive Packaging Industries, with an annual turnover of approximately Rs 1000 crores, is a privately owned flexible packaging company with nine manufacturing facilities in India and the UAE as well as significant business in Africa and other export markets.
 
With the acquisition, Huhtamaki will expand its flexible packaging manufacturing into Middle East and expects to double its sales in Africa. Positive Packaging will become part of Huhtamaki's Flexible Packaging business segment.