The deal will give the company access to 12 manufacturing facilities in India including three in the UAE as well as significant business interest in Africa. Moreover, through Positive, it gains leadership positions in key fast-growing emerging markets. Positive Packaging makes products ranging from food and cosmetics packaging to medicine packing
The euro 2.3 billion Huhtamaki already has 61 manufacturing units globally and the Positive deal consolidates its position further.
The packaging business has been seeing several mergers and acquisitions worldwide, the recent being Britain's RPC snapping up Hong Kong's ACE Corporation. Positive Packaging is part of Nigeria's $500 million Enpee Group whose founder and chairman is NP Kirpalani, a first generation entrepreneur. The company, which makes packaging for Lipton teas and Surf detergents, has sales of about $300 million and it employs 2,500 people in India and UAE, and sales staff in seven other countries.
