Huhtamäki Acquires Zellwin Farms Company
Deal News | Apr 24, 2025 | Globenewswire
Huhtamäki, a Finnish packaging company, has acquired Zellwin Farms Company, based in Zellwood, Florida, USA. The transaction values the privately-owned business with a debt-free enterprise value of USD 18 million. This acquisition enhances Huhtamäki's growth in molded fiber packaging, particularly egg cartons and trays. Zellwin Farms has served egg producers in the Southeastern United States for over 20 years, with the acquired business generating an annual revenue of approximately USD 20 million. The acquisition provides Huhtamäki with increased capacity and expertise in molded fiber packaging. The deal is seen as advantageous due to legislative changes in North America favoring renewable and recyclable packaging solutions. Huhtamäki's North America Director, Ann O'Hara, emphasized the strategic fit in Huhtamäki's mission to be a leading player in the field. The acquisition supports Huhtamäki's objective to improve shareholder value and is expected to enhance earnings per share from the first year, according to Huhtamäki's CEO, Ralf K. Wunderlich.
Sectors
- Packaging Industry
- Food and Beverage Industry
Geography
- United States – Zellwin Farms is based in Zellwood, Florida, and serves egg producers in the Southeastern United States, making it a significant geographic focus for this acquisition.
- Finland – Huhtamäki is a Finnish company expanding its presence and capacity in North America through this acquisition.
Industry
- Packaging Industry – Huhtamäki operates in the packaging industry, specializing in providing sustainable packaging solutions such as molded fiber packaging for products like egg cartons.
- Food and Beverage Industry – Zellwin Farms serves egg producers in the Southeastern USA, linking the acquisition to the food supply chain, particularly in egg packaging and distribution.
Financials
- USD 18,000,000 – Debt-free enterprise value of Zellwin Farms as part of the acquisition by Huhtamäki.
- USD 20,000,000 – The annual revenue of the acquired business, Zellwin Farms.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Huhtamäki | Buyer | Company | A Finnish packaging company acquiring Zellwin Farms to expand its fiber packaging capacity. |
| Zellwin Farms Company | Target company | Company | A privately-owned company in Zellwood, Florida, specializing in supplying molded fiber egg cartons and trays. |
| Ann O'Hara | North America Director | Person | A director at Huhtamäki, discussing the strategic benefits of the acquisition. |
| Ralf K. Wunderlich | CEO | Person | CEO of Huhtamäki, mentioning the acquisition's expected positive impact on shareholder value. |