Huhtamaki has acquired BCP Fluted Packaging Ltd. in the UK. BCP Fluted Packaging Ltd. specializes in corrugated packaging for the foodservice, confectionery and cosmetics markets and is based in Blackburn, Lancashire, the UK. The company employs approximately 120 people. With the acquisition Huhtamaki continues to implement its strategy of quality growth and expands its product offering.
All shares of the privately owned BCP Fluted Packaging Ltd. were acquired for a purchase price of approximately EUR 20 million. The net sales of the acquired business during financial year 2012-2013 were approximately EUR 18 million. The acquired company will be renamed Huhtamaki BCP Ltd. and it will become part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment. The acquisition is expected to be EPS accretive as of 2014.
"We are pleased to continue strengthening our position with this targeted acquisition," says Jukka Moisio, CEO of Huhtamäki Oyj.
"BCP's corrugated food-to-go products complement our existing range of foodservice products perfectly," says Eric Le Lay, Executive Vice President Foodservice Europe-Asia-Oceania. "We also look forward to serving BCP's current and future customers in the confectionery and cosmetics industries."
"I am extremely pleased to have BCP join the Huhtamaki Group," says Brian Jones, Chairman of BCP.
