Huhtamaki has entered into an agreement to acquire the Indian business and related assets of Ajanta Packaging, a privately owned manufacturer of pressure sensitive labels. The business will become part of the Flexible Packaging business segment.
International Paper, the US firm that has made an €8.6bn approach to buy Irish packaging giant Smurfit Kappa, is understood to have considered a secondary stock market listing in London in order to overcome any issues Smurfit Kappa institutional shareholders may have in accepting shares in the US company as part of a takeover deal.
