30 March 2009
Graf von Westphalen advises Huhtamaki Oyj on the divestment of its Release Paper business
Huhtamaki has sold its Release Paper business, a part of Huhtamaki's Films Global division, to German release liner manufacturer B.Laufenberg GmbH, which specializes in manufacturing siliconized papers and films. The "Films Global" division comprises the manufacture of special films and papers; the Release Paper business consists of siliconized glassine and clay coated liners which are manufactured at Huhtamaki's Films facility in Forchheim, Germany. The assets of the Release Paper business will be transferred to B.Laufenberg GmbH by way of an asset deal over a transition period of 12 months. The annual net sales of the divested business is EUR 30 million. This sale will allow Huhtamaki to focus on and further strengthen its stronghold business, release films. Huhtamaki will continue to produce poly-coated paper.
Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2008 net sales totaling EUR 2.3 billion. Consumer goods and foodservice markets are served by some 14,600 people in 65 manufacturing units and several sales offices in 35 countries. The parent company, Huhtamaki Oyj, has its head office in Espoo, Finland and is listed on the NASDAQ OMX Helsinki Ltd.
Graf von Westphalen has been advising Huhtamaki's three German offices in Forchheim, Ronsberg and Alf on all matters of commercial and company law since 2008. On the sale of the Release Paper business. Huhtamaki Oyj was advised by Graf von Westphalen, whose team consisted of
Dr. Barbara Mayer (M&A, Corporate, Freiburg),
Dr. Hendrik Thies (M&A, Corporate, Freiburg)
Dr. Christoph Fingerle (Employment Law, Freiburg).