# Huhtamaki to acquire 70% of Everest Flexibles in South Africa

Huhtamaki agreed to acquire a 70% majority stake in privately owned flexible packaging maker Everest Flexibles in Durban, South Africa, at an enterprise value of EUR 58 million. Everest has annual net sales of about EUR 40 million and about 420 employees.

- Type: Acquisition
- Announced: 2019-09-27
- Where: Durban, South Africa
- Value: $64.0M (58.0M EUR)
- Status: announced
- Products: flexible packaging
- Sectors: [Packaging](https://endata.com/sectors/packaging.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Huhtamaki](https://endata.com/companies/909.md) (acquirer)
- [Everest Flexibles](https://endata.com/companies/5594.md) (target)

## Sources

- [huhtamaki.com](https://www.huhtamaki.com/en/media/media/press-release/2019/huhtamaki-to-expand-to-flexible-packaging-manufacturing-in-south-africa/), 2019-09-27: "The business will be acquired for an enterprise value of EUR 58 million."
- [packagingnewsafrica.com](https://www.packagingnewsafrica.com/2019/10/01/huhtamaki-has-swooped-to-acquire-everest-flexibles-in-south-africa-in-a-e58m-deal/), 2019-10-01: "The privately-owned flexible packaging manufacturer will ensure that Huhtamaki expands its manufacturing footprint into South Africa."
- [packagingnews.co.uk](https://www.packagingnews.co.uk/news/business/mergers-acquisitions/page/15), 2019-11-25: "Huhtamaki has swooped to acquire Everest Flexibles in South Africa in a €58m deal."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.