Huhtamaki has acquired the a 70 per cent share of CupPrint, Europe’s specialist manufacturer of custom printed cups manufactured in short runs. The 22 million acquisition of this Irish paper cup company enhances Huhtamaki’s digitalisation capabilities. It also allows access to the short run, custom printed cup market.
The joint venture allows Huhtamaki to better serve the needs of independent coffee and ice cream shops, looking for lower volumes and fast deliveries. The acquired short run capabilities also improve our promotional offering to current customers.
“By combining the two companies’ strengths, we can serve our customers even better: CupPrint offers reduced lead times and agility, while Huhtamaki brings its global footprint and financial strength to the partnership. Many customers across Europe will also value the possibility to order smaller quantities of custom printed cups from a trusted provider. In addition, we are happy to introduce them to CupPrint’s 3D online design tool,” says Philippe Ferrand, managing director of Huhtamaki Foodservice Southern Europe & UK region.
Currently, the large majority of CupPrint customers are distributors, online printers and some coffee shop chains. Additionally, the company serves small and medium size customers, such as media agencies and independent cafés. Huhtamaki is looking at growing the business outside CupPrint’s current core markets.
“This joint venture with Huhtamaki gives Cupprint the opportunity to accelerate its business model into more international markets and non-core segments,” comments the founder and CEO of CupPrint Terry Fox, who will remain as general manager of the company.
With the acquisition, CupPrint’s existing management will retain 30% of the ownership and continue to lead the company. CupPrint will continue to operate under its brand name CupPrint out of Ennis, Republic of Ireland, and keep the sales office in Germany.
The acquisition will not mean any changes to contracts or contacts.