[dropcaps style=’2′]Huhtamaki has completed the acquisition of Ajanta Packaging’s business in India. Ajanta Packaging is a manufacturer of pressure sensitive labels in India. The annual net sales of the acquired business are approximately EUR 10 million and it employs altogether 170 people. The debt free purchase price was approximately EUR 13 million. The business will be reported as part of the Flexible Packaging business segment as of 1 June 2018.[/dropcaps]
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.
In 2012, Huhtamaki acquired 51% shares in Mumbai-based Webtech Labels. In 2017, HPPL’s subsidiary Webtech Labels set up a label manufacturing unit in Sikkim, to service its customers based in North East India.
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