Finland Huhtamaki bought packaging manufacturer Elif Holding for 412 million euros

Finland-based packaging company Huhtamaki signed a share transfer agreement to acquire Elif Holding.

The Finnish company informed that the sale price is "free of debts and cash" and made the statement that "The acquisition will expand our company's flexible packaging product range and geographies".

Huhtamaki, which has 82 production centers in 36 countries, is one of the world's leading sustainable packaging companies with its 18,200 employees. Huhtamaki's turnover in 2020 amounted to 3.3 billion euros.

Being among Turkey's largest flexible packaging manufacturers and export companies, Elif has two state-of-the-art production facilities in Turkey and Egypt.

Offering flexible packaging solutions to more than 200 production facilities in more than 50 countries, most of which are international giant companies, Elif is the regional leader in its field.