With steady and rapid pace growing in the label industry in India, the international label and packaging producing companies continue to consider India as their most important destination for market expansion. Mumbai based Webtech labels lead by Amar Chhajed and Jitesh Chhajed, has been acquired by internationally renowned company Huhtamaki Oyj’s subsidiary in India – PPL Huhtamaki.
Huhtamäki Oyj’s subsidiary in India has acquired 51% of the shares in privately held Webtech Labels (P) Ltd.
Webtech Labels is specialized in manufacturing high-end pressure sensitive labels, especially to pharmaceutical customers. The annual net sales of the company are approximately EUR 10 million. The acquisition complements the flexible packaging segment’s existing product portfolio. “We continue to implement our growth strategy, and we are pleased to add this expertise to our offering in a fast-growing market such as India,” said Jukka Moisio, CEO, Huhtamäki Oyj.
Huhtamaki is one of the world’s largest packaging companies and one of the few truly global players. Focus and expertise lies in molded fiber packaging, flexible packaging, release films and paper cup manufacture. Huhtamaki has evolved from a multi-industry company into a consumer packaging specialist through a series of almost 200 company acquisitions and divestments since 1980.