June 4th 2018
Global food and drink packaging specialist Huhtamaki has acquired 70% of CupPrint, Europe’s leading manufacturer of customer made printed cups in short runs.
The investment will enable CupPrint to grow and develop its business across European markets and accelerate it into new segments.
The 22 million euro acquisition of this innovative Irish manufacturing company will allow Huhtamaki to add capability for short run, fast turnaround bespoke paper cups, which are ideal for the independent sector.
CupPrint’s existing management retains 30% of the business and will continue to lead the company Terry Fox, CEO and founder of CupPrint remains as General Manager. Terry said “This joint venture with Huhtamaki gives Cupprint the opportunity to accelerate its unique business model into more international markets and non-core segments.”
Huhtamaki believes the move will enable it to better serve the needs of a new type of clientele, such as independent coffee and ice cream shops, which need lower volumes and fast deliveries. As importantly, the acquired short run capabilities also improve the company’s promotional offering to current customers.
Philippe Ferrand, Managing Director of Huhtamaki Foodservice Southern Europe & UK region commented: “By combining the two companies’ strengths we can serve our customers even better: CupPrint offers reduced lead times and agility, while Huhtamaki brings its global footprint and financial strength to the partnership.”
The acquisition brings no changes as of now for contracts or contact persons at Huhtamaki or CupPrint. It is the utmost priority for both companies to ensure that the quality of service and products remains unchanged.
For further information:
Terry Fox, General Manager, CupPrint: tel. +353 (0) 86 3881811, email@example.com
David Biggs, Sales & Marketing Director, Huhtamaki Foodservice UK: tel. +44 (0) 7469 857599, firstname.lastname@example.org