Gowling WLG completes €103 million acquisition for Huhtamaki

26 May 2016

Longstanding Gowling WLG client Huhtamaki has entered the folding carton packaging business in Europe following the €103 million acquisition of Belfast-based Delta Print and Packaging (Delta) and its affiliated Polish unit.

Huhtamaki, headquartered in Finland and listed on NASDAQ, is a global specialist in packaging for food and drink with app. 16,000 employees across a network of 71 (now 73) manufacturing units and 23 sales offices in 34 countries. Delta will form part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment.

Delta is a privately held folding carton packaging manufacturer based in Belfast. Its affiliated Polish unit, European Packaging Solutions Poland Sp. Z o.o., has a new manufacturing unit in Gliwice, Poland.

Corporate partner Julian Henwood, co-chair of Gowling WLG's Nordic Desk, led on the acquisition. He was supported by principal associate Amar Adatia and associate Laura Dick. The same team also worked with the Huhtamaki team on its 2013 €20m acquisition of BCP Fluted Packaging.

Julian said: "We're thrilled to continue our longstanding and valued relationship with Huhtamaki with this latest step in its growth strategy focused on food and drink packaging."

Ville Soro, M&A Director and Legal Counsel of Huhtamaki Foodservice Europe-Asia-Oceania, added: "We are really excited about this expansion of our foodservice packaging operation and it was a pleasure to work again with Gowling WLG team. Their proactive, responsive and comprehensive approach added on top of high quality advice continues to impress us and makes the cooperation very easy."

Domañski Zakrzewski Palinka provided support on the Polish law aspects of the transaction, while A&L Goodbody advised on Northern Ireland real estate and employment law aspects of the deal.

Gowling WLG's 60-strong corporate team has extensive experience across the full spectrum of corporate advice including equity capital markets, investment funds, private equity and both public and private mergers and acquisitions.

Gowling WLG's Nordic Desk applies its extensive experience to assist clients headquartered in the Nordic Region with establishing their business operations internationally - whether through an acquisition or by establishing a greenfield operation - and looking after their ongoing legal needs.