# Huhtamaki to acquire China-based Jiangsu Hihio-Art Packaging for €27m

Finnish packaging firm Huhtamaki agreed to acquire Jiangsu Hihio-Art Packaging, a Chinese maker of paper bags and folding cartons, for a debt-free price of €27 million. The target's plant is in Xuzhou, Jiangsu, and the deal is expected to close by the end of Q3 2021.

- Type: Acquisition
- Announced: 2021-04-22
- Where: Xuzhou, Jiangsu, China
- Value: $32.0M (27.0M EUR)
- Status: announced
- Products: paper bags, wraps, folding carton packaging

## Companies

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

## Sources

- [designpackagingnews.com](http://designpackagingnews.com/en/huhtamaki-to-acquire-china-based-jiangsu-hihio-art-packaging-for-e27m/), 2021-04-22: "Subject to certain customary closing conditions, the acquisition is expected to be completed by the end of the third quarter of 2021."

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