Huhtamaki acquires majority of Tailored Packaging

Huhtamaki acquires majority of Tailored Packaging
Global food and drink packaging giant snatches up most of Aussie food packaging company for $55.6m

Finnish packaging mogul Huhtamaki has snagged 65 per cent of Tailored Packaging, an Australian foodservice packaging distribution and wholesale group, giving it access to a national network of distribution centres across Australia.

The debt free purchase price for 65 per cent ownership of the joint venture was approximately €35m or around A$55.6m. As the majority shareholder Huhtamaki says it will consolidate the joint venture company as a subsidiary in the Group's financial reporting, with the business being reported as part of the Foodservice Europe-Asia-Oceania business segment.

Tailored Packaging is a national foodservice packaging distribution and wholesale group, founded in Sydney in 2001 and having sales offices and distribution centres in each state of Australia. The business imports and distributes bags, bin liners, food wraps, prepackaging and other items.

The company  employs around 130 people and is one of the largest importers and distributors of foodservice packaging in Australia.

Last July, Huhtamaki also acquired International Paper’s foodservice packaging options in eastern China. The acquisition comprised of two manufacturing units located in Shanghai and Tianjin, employing altogether approximately 200 employees.

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