Huhtamäki, a Finnish manufacturer of disposable packaging, announced on Tuesday that it will acquire India's Positive Packaging for a debt-free price of some 250 million euros, pending the approval of competition authorities. Huhtamäki expects the takeover to be finalised in the autumn.
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Huhtamäki acquires toehold in emerging markets
The privately-owned Indian company posted net sales of roughly 220 million euros last year and has manufacturing operations in India and the United Arab Emirates as well as other business interests in Africa, according to Huhtamäki.