Huhtamaki expands in the flexible packaging sector with the acquisition of Elif

Huhtamaki, a leading Finnish packaging manufacturer, is strengthening its position in emerging markets with the acquisition of Turkish company Elif, a leading supplier of sustainable flexible packaging solutions in Europe, the Middle East and Africa. When the €412 million deal is finalised, Elif will become part of Huhtamaki’s Flexible Packaging business segment.

Founded in 1972, Elif is highly committed to achieving ambitious sustainability goals. It uses both post-industrial and post-consumer recycled polymers as raw materials and more than 90% of its current product portfolio is recyclable. It also has an advanced system of collecting and utilising production scrap from its own as well as from customer locations. In 2020, Elif’s net sales stood at approximately €163 million and it employs around 1,500 highly skilled people at its two state-of-the art manufacturing locations in Istanbul and Cairo.

The acquisition adds state-of-the-art flexographic printing capability with in-house cliché production to Huhtamaki’s technology offering and is a significant milestone towards the group’s 2030 growth strategy.