Huhtamaki reinforces its leadership position in emerging markets with the acquisition of Elif, a major supplier of sustainable flexible packaging to global brand owners

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Huhtamaki has entered into an agreement to acquire #elif Holding A.Ş. (Elif), a major supplier of sustainable flexible #packaging to global FMCG brand owners, with operations in Turkey and in Egypt. With this acquisition, #huhtamaki reinforces its position as a leading flexible #packaging company in emerging markets and strengthens its existing flexible #packaging business in attractive consumer product categories. In line with Huhtamaki’s 2030 growth strategy, the acquisition adds scale in strategic geographies and supports Huhtamaki’s progress towards reaching its high sustainability ambitions. The acquisition also expands Huhtamaki’s technology capabilities and product range, allowing it to serve its customers even better.

Elif is a leader in sustainable flexible #packaging in Europe, Middle East and Africa, serving major global brand owners

Founded in 1972, #elif is a trusted long-term partner for major global consumer brand owners in Europe, Middle East and Africa. Similarly to #huhtamaki, sustainability is embedded into Elif’s strategy and it is committed to the three areas of sustainability, environmental, social and governance and to enabling its customers to reach their sustainability goals by providing continuous innovation. Specialized in high-quality sustainable flexible #packaging, #elif uses both post-industrial and post-consumer recycled polymers as raw materials. It also has an advanced system of collecting and utilizing production scrap from both its own as well as from customer locations. More than 90% of Elif’s current product portfolio is recyclable and the product portfolio also includes compostable films. In 2020, Elif’s net sales were approximately EUR 163 million (USD 195 million) and it employs approximately 1,500 highly skilled people in its two state-of-the art manufacturing locations in Istanbul, Turkey and Cairo, Egypt.

The acquisition of #elif supports Huhtamaki’s 2030 growth strategy and the achievement of its high sustainability ambitions

The acquisition of #elif supports Huhtamaki’s 2030 growth strategy by leveraging scale, strengthening capabilities and improving competitiveness. The acquisition adds state-of-the-art flexographic printing capability with in-house cliché production to the #huhtamaki technology offering. It expands Huhtamaki’s flexible #packaging product range and creates cross-selling opportunities across customers and geographies. With the acquisition, #huhtamaki also expands its flexible #packaging manufacturing footprint into Turkey, one of the top future growth countries. With the vast majority of Elif’s product range already recyclable or compostable, the acquisition is also a significant milestone in reaching Huhtamaki’s ambition to have 100% of its products designed to be recyclable, compostable or reusable by 2030.

Further information in the press release to download