Plastics packaging processor Huhtamaki has agreed to acquire the Brazilian film extruder and converter Prisma Pack Indústria de Filmes Técnicos e Embalagens Ltda (Camaçari,Brazil). The privately owned Prisma Pack, founded in 2001, is a market leader in hygienic films in Brazil and also serves demand for food packaging and other applications. Hygienic films are mainly used in personal care products, such as disposable diapers, feminine protection and incontinence diapers.
Prisma Pack's net sales in 2010 were approximately €40 million. The company has a strong track record of sales growth since its beginning in 2003. The company employs approximately 200. Huhtamaki's Brazilian subsidiary will acquire all of Prisma Pack for a debt-free purchase price of €20 million.
"We are very excited about this acquisition," says Jukka Moisio, CEO of Huhtamäki Oyj. "The strategic fit is perfect. With Prisma Pack we gain a strong position in hygienic films in the fast growing Brazilian market and improve our ability to serve our global customers in South America." Huhtamaki last year sold most of its rigid packaging assets as the company decided to fous on flxible packaging....