Huhtamaki has entered into an agreement to acquire Elif Holding A.Ş. (Elif), a major supplier of sustainable flexible packaging to global FMCG brand owners, with 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. In line with Huhtamaki’s 2030 growth strategy, the acquisition adds scale in strategic geographies and supports Huhtamaki’s progress towards reaching its high sustainability ambitions. The acquisition also expands Huhtamaki’s technology capabilities and product range, allowing it to serve its customers even better.
Founded in 1972, Elif is a trusted long-term partner for major global consumer brand owners in Europe, Middle East and Africa. Similarly to Huhtamaki, sustainability is embedded into Elif’s strategy and it is committed to the three areas of sustainability, environmental, social and governance and to enabling its customers to reach their sustainability goals by providing continuous innovation. Specialized in high-quality sustainable flexible packaging, Elif uses both post-industrial and post-consumer recycled polymers as raw materials. 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. In 2020, Elif’s net sales were approximately EUR 163 million (USD 195 million) and it employs approximately 1,500 highly skilled people in its two state-of-the art manufacturing locations in Istanbul, Turkey and Cairo, Egypt.