Huhtamaki has bought the a 70 in line with cent percentage of CupPrint, Europe’s specialist producer of customized revealed cups manufactured in brief runs. The 22 million acquisition of this Irish paper cup corporate complements Huhtamaki’s digitalisation features. It additionally lets in get admission to to the fast run, customized revealed cup marketplace.
The three way partnership lets in Huhtamaki to raised serve the desires of impartial espresso and ice cream stores, in search of decrease volumes and speedy deliveries. The bought brief run features additionally support our promotional providing to present shoppers.
“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 area.
Currently, the huge majority of CupPrint shoppers are vendors, on-line printers and a few espresso store chains. Additionally, the corporate serves small and medium measurement shoppers, reminiscent of media companies and impartial cafés. Huhtamaki is having a look at rising the trade outdoor CupPrint’s present core markets.
“This joint venture with Huhtamaki gives Cupprint the opportunity to accelerate its business model into more international markets and non-core segments,” feedback the founder and CEO of CupPrint Terry Fox, who will stay as common supervisor of the corporate.
With the purchase, CupPrint’s current control will retain 30% of the possession and proceed to steer the corporate. CupPrint will proceed to perform below its logo title CupPrint out of Ennis, Republic of Ireland, and stay the gross sales place of business in Germany.
The acquisition is not going to imply any adjustments to contracts or contacts.