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Huhtamaki Sells Confectionery Portfolio

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Huhtamaki Sells Confectionery Portfolio

Huhtamaki Sells Confectionery Portfolio
May 10
09:06 2018

Huhtamaki, a global specialist in packaging for food and drink, has sold its confectionery trademark portfolio to Highlander Partners, a US-based investment firm. Related to the sale, an after taxes gain of approximately US$16 million will be booked as an item affecting comparability (IAC) during the second quarter of 2018.

The sold trademark portfolio was related to Huhtamaki’s confectionery business, which was divested in 1996.

Huhtamaki has a network of 76 manufacturing units and an additional 24 sales only offices across 34 countries and employs approximately 17,600 people. In 2017, the group’s net sales totaled EUR 3.0 billion. The group has its head office in Espoo, Finland and the parent company Huhtamäki Oyj is listed on Nasdaq Helsinki.

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