Huhtamaki to acquire Jiangsu Hihio-Art Packaging for $33m.

Huhtamaki, a manufacturer of consumer packaging products, agreed to acquire Jiangsu Hihio-Art Packaging, manufacturer of paper bags, wraps and folding carton packaging in China, for $33m. “I am excited with the opportunities that this acquisition represents for our core business in China. Urbanization, middle class expansion and innovation into more sustainable packaging solutions drive growth across Asia. The acquisition of Jiangsu Hihio-Art Packaging Co. Ltd extends our product portfolio and access to new channels. This enables us to accelerate growth in China in line with our strategy,” Eric Le Lay, Huhtamaki President for Fiber Foodservice EAO Business Segment.