Huhtamaki has signed an agreement to acquire Butterworth Paper Cups, a paper cup and foodservice packaging manufacturer in Malaysia.
The acquisition, worth approximately EUR 8 million, is expected to be completed in April 2015.
“With the acquisition, Huhtamaki expands its foodservice manufacturing footprint to Southeast Asia and significantly strengthens its presence and capability to serve customers in Malaysia, Singapore and other regional Southeast Asian markets,” according to the company statement.
Butterworth Paper Cups employs approximately 120 people at its manufacturing unit in Penang. The unit will become part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment.
