Huhtamaki Buys Supplier of Sustainable Flexible Packaging

Huhtamaki recently announced that it is buying Elif Holding, a major supplier of sustainable flexible packaging to global brand owners.

Founded in 1972, Elif has operations in Turkey and in Egypt. “With this acquisition, Huhtamaki reinforces its position as a leading flexible packaging company in emerging markets and strengthens its existing flexible packaging business in attractive consumer product categories,” Huhtamaki says in a news release.

The deal worth $483 million also will help the company reach its sustainability goals.

“Specialized in high-quality sustainable flexible packaging, Elif uses both post-industrial and post-consumer recycled polymers as raw materials,” Huhtamaki says. “It also has an advanced system of collecting and utilizing production scrap from both its own as well as from customer locations.”

More than 90% of Elif’s current product portfolio is recyclable, and the product portfolio also includes compostable films.