Finland-based food and drink packaging company Huhtamaki has acquired Delta Print and Packaging (Delta), a folding carton packaging manufacturer based in Northern Ireland, for around €103m.
The acquisition also includes Delta's affiliated Polish unit, European Packaging Solutions Poland, which has a new manufacturing unit in Gliwice, Poland.
With the acquisition, Huhtamaki expects to employ its growth strategy for food and drink packaging and has entered the folding carton packaging market in Europe.
Delta now expects to become a part of Huhtamaki's Foodservice Europe-Asia-Oceania business segment.
Huhtamaki Foodservice Europe-Asia-Oceania executive vice-president Eric Le Lay said: "With Delta we are able to serve our European customers even better and offer them a fuller range of paperboard packaging solutions.
"We're excited to enter the folding carton packaging business also in Europe.
"The acquisition strengthens our offering for the specialty coffee and QSR segments and gives us significant new opportunities in the packaged food market."
Delta manufactures custom-built printed folding carton packaging for the UK and European foodservice, packaged food and retail markets.
The company's net sales for 2016 are expected to be around €70m.
Delta employs around 300 employees in its two manufacturing units.
Huhtamaki currently has a network of 73 manufacturing units and 23 sales offices in 34 countries.
The company has developed three major packaging technologies and employs around 16,000 personnel.
Recently, Huhtamaki expanded the capacity of its egg packaging business in Ivanteevka Russia with an investment of around €8m.
The expansion provided extended warehouse space and improved infrastructure.