# Huhtamaki completes acquisition of Jiangsu Hihio-Art Packaging in China

Huhtamaki has completed the acquisition of the assets of Jiangsu Hihio-Art Packaging Co. Ltd., a Chinese manufacturer of paper bags, wraps and folding carton packaging. The debt-free purchase price was EUR 27 million.

- Type: Acquisition
- Announced: 2021-06-11
- Where: Xuzhou, China, China
- Value: $32.6M (27.0M EUR)
- Jobs: 200
- Status: completed
- Products: paper bags, wraps, folding carton packaging
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Huhtamaki](https://endata.com/companies/909.md) (acquirer)
- [Jiangsu Hihio-Art Packaging](https://endata.com/companies/7869.md) (target)
- [Jiangsu haihuiwute Packaging Co., Ltd.](https://endata.com/companies/56054.md) (target)

## Sources

- [lesprom.com](https://www.lesprom.com/en/news/Huhtamaki_completes_acquisition_of_Jiangsu_Hihio-Art_Packaging_in_China_99197/), 2021-06-11: "Huhtamaki has completed the acquisition of Jiangsu Hihio-Art Packaging Co. Ltd.’s assets."
- [fancyco.com](https://www.fancyco.com/news/jiangsu-haihuiwute-packaging-completed-the-project-of-selling-the-whole-assets-to-finland-pule-group/), 2021-06-25: "The project has been signed and officially delivered in the near future."

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