Monday, February 1, 2016 12:15 pm

CZECH REPUBLIC -- Huhtamaki has completed the acquisition of FIOMO, a manufacturer of flexible packaging foils and labels in the Czech Republic. With the acquisition Huhtamaki expands its flexible packaging manufacturing footprint in Europe and is able to offer agile high quality off-set printing capabilities for smaller production runs for its customers.

The debt-free purchase price was approximately Euro 28 million. The business will be consolidated into the Flexible Packaging business segment as of February 1, 2016.

The annual net sales of the acquired business in 2014 were approximately Euro 21 million and it employs approximately 120 people in its manufacturing unit in the Prague area.